Decision Details

Report of Strategic Director Place, Prosperity and Sustainability

Approval from Cabinet Committee – Property to amend following development:

King’s Norton Primrose Extension, Kings Norton South

Cabinet Report 16 May 2023 Affordable Housing - Sites for Disposal 

On 27 February 2025, Cabinet Committee – Property:-

1. Noted the undervalue in terms of the level offer submitted when compared with the potential full market value of the site. This undervalue to be offset by the proposal which contractually ensures the delivery of additional affordable housing and the consequential cost savings on Temporary Accommodation, met by the General Fund;

    

2. Approved the sale of the site (as defined in Appendix 1, to the report) through a Development Agreement route to the preferred developer with an onward sale agreement to a Registered Provider (RP) with the transaction details described in the Exempt Report Appendix 2, to the report;

    

3. Noted the land assets that have been identified for development and disposal from the Housing Revenue Account (HRA) to provide affordable housing across the city, with the Council retaining 100% Nomination Rights on first lets, and 80% on subsequent lets for the first ten years for those on its housing register. The receipts will be paid into the HRA;

    

4. Delegated authority to the Executive Director for Place, Prosperity, and Sustainability, the Director of Finance (s151 Officer), and the Interim City Solicitor & Monitoring Officer (or their respective delegates) to agree the final terms of the transaction, including any non-material amendments of terms;  

    

5. Authorised the City Solicitor and Monitoring Officer (or their delegate) to take all steps necessary to execute and complete all relevant legal documentation to be prepared by an external lawyer.

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