Issue - meetings

Further to Minute 84 (27 January 2015), the Cabinet Member for Finance, Performance and Core Services presented a report on the formalisation of arrangements to enable the sale of the shared ownership units constructed as part of The Leys Phase 2 development.

The Cabinet Member explained that the previous report should have included a recommendation regarding the sale of the shared ownership units, as had been the case for similar projects involving shared ownership properties.  Authorisation was therefore being sought to enable the planned sales to be finalised.  In response to points raised it was noted that approximately 80% of properties across the Council’s four shared ownership development sites in the Borough had gone to local people, while the local connection rate across the entire redevelopment of The Leys estate was circa 90%. 

Cabinet Members commended the Council’s approach to providing a genuine mix of affordable housing that both encouraged and enabled local people to continue to live in the Borough as they progressed up the housing ladder.

The Cabinet resolved to authorise the Chief Operating Officer, in consultation with the Cabinet Member for Finance, Performance and Core Services and the Director of Law and Governance, to approve the final terms in respect of the shared ownership arrangements for the 34 units at Leys Phase 2 and enter into all the necessary agreements.