(i) Approve the proposed redevelopment of the former Royal British Legion site and Jervis Court, as shown edged red in the plan at Appendix 1 to the report;
(ii) Agree the service of Initial Demolition Notices on all secure tenants at the affected properties at the appropriate time, in order to suspend the requirement for the Council to complete Right to Buy applications for as long as the notices remain in force, and delegate approval and timing of final notices to the Director of Inclusive Growth, in consultation with the Director of Law and Governance;
(iii) Approve to the use by the Council of its Compulsory Purchase Order (CPO) making powers, should they prove necessary to facilitate the future redevelopment of the site;
(iv) Agree that, subject to the grant of an acceptable planning permission and receipt of satisfactory construction tender prices, the project be financed and held within the residential asset class of the Investment and Acquisition Strategy;
(v) Agree the inclusion of the project in the Council’s Capital Programme in the total sum of £19,700,000, subject to securing planning permission and procurement of a contractor in accordance with the project outputs and budget;
(vi) Agree the Funding Strategy set out in section 5.10 of the report, including borrowing up to £13,402,000 within the General Fund from the Public Works Loan Board, to finance the development and ownership of the affordable rent homes via a loan agreement made between the Council and any suitable vehicle that the new units may be held in (e.g. a new B&D Reside Registered Provider or other vehicle); and
(vii) Approve the appropriation of the land, as shown edged red in the plan at Appendix 2 to the report, under Section 122 of the Local Government Act 1972, from the Housing Revenue Account to the General Fund.