Decision Details

Report to Strategic Director Place Prosperity & Sustainability.

Approval from Cabinet Committee – Property to amend following development:

Yardley Brook, Glebe Farm & Tile Cross

The amendment to the site will generate more than £500,000 revenue.

Cabinet Report 16 May 2023 Affordable Housing - Sites for Disposal 

On 13 November 2024, Cabinet Committee – Property:-

1. Approved the sale of the site (as defined in Appendix 1 to the report) through a Development Agreement route to a Registered Provider with the transaction details as detailed in Exempt Appendix 2 of the report following the approval of the modification of the original contract for the development of housing at Yardley Brook between the Council and the developer;

    

2. Noted the land assets 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. This means the Council will be able to relieve pressure from the housing register and receive a capital receipt for the land;

    

3. Delegated authority to the Strategic Director for Place, Prosperity, and Sustainability, the Interim 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; and

    

4. Authorised the City Solicitor and Monitoring Officer (or their delegate) to take all steps necessary to prepare, execute, and complete all relevant legal documentation to give effect to the above.