Decision details

The Cabinet will be presented with an update report on the Barking Housing Zone proposals agreed at the meeting on 21 July 2015 and asked to approve measures to enable a number of the schemes to progress.

Cabinet resolved to:

(i)  Agree, subject to the completion of satisfactory due diligence, to the purchase from Flodrive Holdings of leasehold interests of the site bordered by Clockhouse Avenue / Broadway / East Street / Grove Place shown hatched in the plan at Appendix 1 to the report, on the terms set out in the exempt Appendix 2 to the report;

(ii)  Agree to the payment of fees and taxes of up to £180,000 associated with the land purchase and due diligence;

(iii)  Agree to enter into a grant funding agreement with the GLA for the North Street and Kingsbridge sites as set out in paragraph 5.2 of the report; and

(iv)  Note that, subject to the agreement of satisfactory terms, a further report will be submitted to Cabinet seeking approval to enter a funding agreement with the GLA and Horizon Infrastructure to finance up to 500 shared ownership new build units, as detailed in section 5.3 of the report.