Issue - meetings

Appendix 2 to this report is contained within the exempt section of the agenda at Item 12.

Further to Minutes 26 (21 July 2015) and 64 (10 November 2015), Members received a report on progress relating to the Barking Housing Zone proposals which included specific plans to purchase leasehold interests in a site, the entering into of a grant funding agreement with the Greater London Authority (GLA) and outline plans relating to the financing of up to 500 shared ownership units.

Councillor Twomey, presenting the report on behalf of the Cabinet Member for Regeneration, referred to the benefits of securing the leasehold interests in respect of the site bordered by Clockhouse Avenue / Broadway / East Street / Grove Place at the present time even though the longer-term vision for the area had still to be determined.  The grant funding agreement with the GLA related to the North Street site, between the London Road junction and Whiting Avenue, and the former Kingsbridge site at King Edwards Road.  Councillor Twomey confirmed that the 38 properties across the mixed tenure sites would each attract £24,000 Affordable Housing Grant funding.

In welcoming the proposals, Members asked officers to ensure that all new developments included ‘designing out crime’ measures within the specifications and that sensible consideration was given to resident parking in the light of experience with other developments in the area.  The Divisional Director of Regeneration confirmed that the Council would hold the nomination rights for the shared ownership properties that would be developed and he advised that a policy report on shared ownership would shortly be presented to the Cabinet.

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.