Issue - meetings

[The report of the  Director for Planning, Regeneration and Development. To be introduced by the Cabinet Member for Housing, Regeneration and Planning.]To approve an updated Stock Investment and Estate Renewal Policy for council owned housing and land.

The Cabinet Member for Housing, Regeneration and Planning introduced the report which set out a new local standard for homes, following the expiry of the decent homes standard .The report proposed a more asset based management strategy where the Council can sell more expensive stock to build more affordable housing stock.

In response to questions from Cllr Engert the following information was noted:

·         Impractical to agree each high value Council housing sale at Cabinet and this would  be completed through officer delegation with the  governance details of this process to be clarified and discussed at a future scrutiny meeting.

·         Expectation that the development vehicle will not ‘cherry pick’ more financially viable easy sites and operate according to a variety of sites, if impossible and not viable to develop a site then cannot enforce this but there is a pre – agreed portfolio of sites to limit this situation and the Council will have an equal stake on the development vehicle board and can also safeguard against this type of situation.

·         The Council had objected to the selling of high value homes but were required to follow this government policy. The Cabinet Member clarified that the Council can only sell a property when void  and this  will not be easy to implement but there will be a set criteria followed as set out in the report

·         Cllr Strickland provided a reminder that the 40% target of affordable housing was subject to viability and the two schemes mentioned in Tottenham were part of a regeneration, development and restoration and renewal scheme including community facilities which causes higher cost and means difficulties in meeting the 40% target. The Council will always continue to push for 40% affordable housing but there was a need to be honest in the report that the cost of developments makes it difficult to meet this target.

RESOLVED

1. To approve the adoption of a new standard for investment in the Council’s stock, as set out in paragraphs 6.13 – 6.18 and appendix 1.

2. To approve the principle of active asset management that will be detailed in the Council’s new Asset Management Delivery Plan, to ensure that the best stock is retained and invested in and assets are appraised for possible disposal when necessary using a Stock Options Appraisal process as illustrated in appendix 2.

3. To agree that the receipts from the sale of Housing Revenue Account (HRA) assets will be ring fenced to the HRA and applied to payment of the required levy and to funding the two for one replacement programme or other approved new supply initiatives.

4. To delegate authority to approve the detailed Asset Management Plan and investment programme, and any variations to it, to the Director of Regeneration, Planning and Development after consultation with the Lead Member for Housing and the Chief Operating Officer;

5. To note the programme of continuous engagement with residents described in paragraphs 6.23 – 6.24, to ensure that tenants and leaseholders are aware of the new standard of investment and the choices  ...  view the full minutes text for item 91