Issue - decisions

The Housing Portfolio Holder AGREED:

1.      That the pilot project to sell five homes as shared ownership properties, restricted to no more than a 95% share, continues with the revised list of properties as shown in Figure 1 of the report.  The locations of the properties being:

a.    Teversham – 2 properties

b.    Sawston – 2 properties

c.    Elsworth – 1 property

2.      That if any of the shared ownership properties remain unsold after six months of going onto the market that they be let as rented houses as part of the Council’s housing stock.

3.      That a separate options appraisal for the remaining Airey properties be brought to the Portfolio Holder in July 2009.

The Portfolio Holder deferred the decision on the Airey homes project pending the submission of an updated report at his next meeting on 2 October 2008 to include a further option of shared ownership and equity share.  The Portfolio Holder also requested that a financial model be provided to reflect the relative cash benefits to the Council of each option.

Cabinet AGREED that

(a)               a pilot refurbishment programme be agreed for the following Airey homes:

(b)               if the Capital Finance Regulations are not amended to allow for a retention of 100% of the capital receipts from shared ownership sales then this matter be referred back to Cabinet at a later date for further consideration of the available options, including open market sales; and

(c)               if the shared ownership model should prove successful within the pilot programme then, subject to the outcome of further local consultation, a wider programme for the remaining 17 Airey units at Bassingbourn, Fulbourn, Coton, Gamlingay and Impington be approved.

(a)               That, subject to the outcome of local consultations, a pilot refurbishment programme be agreed for the following Airey homes:

(b)               That if the Capital Finance Regulations are not amended to allow for retention of 100% of the capital receipts from shared ownership sales then the properties should be offered for sale on the open market to provide a (lower) element of cross subsidy to keep costs incurred within budget.

(c)               If the shared ownership model proves successful then this should be rolled out as a programme across the remaining 17 Airey units at Bassingbourn, Fulbourn, Coton, Gamlingay and Impington, subject to local support.

(d)               If the shared ownership option is not successful and / or is not supported locally then the preferred option will be revisited depending on the outcome of a local consultation exercise in the other villages on the alternative options as outlined in this report.  A further report will then be brought forward for consideration at a future date.