Decision details

RESOLVED

to endorse the policy that Council-owned properties on the Windmill Estate continue to be leased to Nene Housing Society in the short term as they become available following relocation of current tenants (on a temporary or permanent basis) until such time as a redevelopment scheme can be implemented. Any surplus income over expenditure in respect of any Council owned properties is to be reinvested in the estate.

that once a redevelopment scheme has been approved and planning consent obtained, the properties held on a short term lease, together with any other Council properties that become vacant thereafter and any other land in the Council’s ownership within the estate boundary (to be agreed), be disposed of to Nene Housing Society for redevelopment purposes subject to the following conditions:

(i)

that redevelopment will maximise the number of affordable homes to be provided with no more than 30% to be open market housing and,

(ii)

that the Council will only transfer the freehold interest in the land required for the open market dwellings at nil cost and,

(iii)

that the land on which any new affordable dwellings are provided (social rented and shared ownership units) will be leased under a 125 year term to Nene Housing Society at nil cost with the Council retaining the freehold interest. However, an option within the lease will enable Nene Housing Society to acquire the freehold interest at an independent open market valuation that reflects the use of the land ie for affordable housing and,

(iv)

that Nene Housing Society will meet any legal costs and home loss/disturbance payments incurred by the Council in respect of the Windmill estate in 2004/05 and future years and,

(v)

that a value for money scheme can be developed to enable appropriate funding from external sources to be secured,

(vi)

that any new affordable housing is tailored to meet identified housing needs as agreed by the Council,

(vii)

that the Council will be entitled to receive nomination rights of 100% of initial lets and 75% of subsequent lettings of all social rented units provided through refurbished and new build affordable housing on the sites and,

(viii)

that the Council will receive 100% nomination rights in perpetuity to any shared ownership and/or other intermediate tenures provided through refurbished and new build affordable housing on the sites and,

(ix)

that the Council will not seek to use compulsory purchase powers to facilitate the redevelopment and,

(x)

that as far as possible the wishes of all residents ( tenants, owner-occupiers and leaseholders) should be accommodated without compromising the wishes of others on the Windmill Estate and,

(xi)

that Nene Housing Society will contribute towards the cost of any additional staffing resources that may need to be identified within Shire Homes to manage the redevelopment scheme.