Decision details

Purpose of Report: To inform Members of the work undertaken to stimulate development of residential homes within the City. Members are asked to note the work being done and agree recommendations aimed at stimulating residential development.

RESOLVED:       That Cabinet agree to:

i)       Option1 as set out in Paragraph 20 of the report to:

·     Update the Affordable Housing Targets (as set out in Table 1) and approve as a material consideration for Development Management purposes;

·     Accept, on sites of less than 15 homes in rural areas, an off site financial contribution in lieu of on site affordable housing, (as set out in Annex 1) for a period of 18 months and approve as a material consideration for Development Management purposes;

·     Invest £1m in addressing overcrowding in existing council homes from the HRA;

·     Agree a first phase of building new council homes with funding from the HRA as set out in the HRA Business Plan.

·     Work up options for a mortgage advice scheme;

·     Review general S106 requirements and development of new approaches to facilitate greater flexibility in the payment of contributions

·     Develop opportunities for Institutional investment in to new Private Rented Sector homes within the city. 

REASON:            To ensure that the council plays a full and active leadership role in delivering quality sustainable new homes, creating jobs and growing the economy of the city.