Issue - meetings

[Report of the Director for  Housing, Regeneration and Planning . To be introduced by the Leader of the Council.]

Cabinet is asked to agree the final price and terms of the acquisition of the Welbourne Centre site and the details of the novation of the Development Agreement and Funding Agreement between the Council and Argent Related.

The Leader introduced the report, highlighting that, in December 2018, Cabinet had agreed to the principle of the acquisition of the Welbourne Centre site. This report clarified a number of supplementary issues that surround that decision.

The Leader advised that securing homes for Haringey’s residents was central to what the Labour administration had set out to achieve. The acquisition of the Welbourne site delivered 131 council homes - or 13 per cent towards the overall target of delivering 1000 new council homes. Furthermore, the acquisition also helped to secure the delivery of a district health centre that had been long fought for locally. The Leader was pleased the Council would be playing its part in bringing forward this critical facility that would significantly improve healthcare facilities and health opportunities for Tottenham residents.

This report also set out the final company structure under which the developer would deliver those outputs. The Council had also received funding from this partnership which has allowed the Council to facilitate the delivery of 167 much-needed affordable homes and infrastructure. This was a significant outcome for residents in the east of the borough and the Leader looked forward to the rapid delivery of those homes and the much-needed health centre on the Welbourne site.

In response to a question from Cllr Palmer, the Leader confirmed that all the housing on the Welbourne site was council housing at council rents. The Leader reiterated that the Cabinet was against segregation of spaces on housing developments.

Further to considering the exempt information at item 25,

RESOLVED

To agree:

1. To the council proceeding with the acquisition for housing purposes of 131 homes and a ground floor non-residential space from Argent Related, to be constructed at the Welbourne site, for a total sum plus expenditure for acquisition process costs and on-costs, as set out in the exempt part of the report.

2. To the final terms of the Contract for the acquisition attached at Appendix B and based on the Heads of Terms previously approved by Cabinet and attached at Appendix A.

3. To give delegated authority to the Director for Housing, Regeneration and Planning to agree any future amendments to the contract, in consultation with the Director of Finance.

4. To the novation of the Development Agreement and Funding Agreement from TH Ferry Island Limited Partnership to TH DM Limited as set out in the Deed of Novation for the Development Agreement attached at Appendix C and the Deed of Novation for the Funding Agreement attached at Appendix D.

Reasons for decision

Acquisition of Affordable Housing on the Welbourne Site

As detailed in Paragraph 1.1 above, on 11^th December 2018 Cabinet agreed (subject to the council’s full budget setting meeting in February 2019) to the in-principle acquisition of the homes and ground floor non-residential space to be constructed at the Welbourne site for a maximum total sum; to unallocated General Fund capital receipts being retained corporately and to note that a further Key Decision will be taken at a later  ...  view the full minutes text for item 134