Decision details

(a)       That the Committee notes Cabinet support for NEW Homes to develop 62 affordable properties on the Walks at Flint at a build cost of £7.397M and that its board has agreed to seek approval from the Council to provide capital finance to fund the development;

(b)       That the Committee supports the Cabinet decision to delegate responsibility to the Section 151 Officer and the Monitoring Officer:

·         Approval of the terms of the loan as described in paragraph 1.50 of this report

·         Approval of the terms of the loan agreement and any associated documents following satisfactory due diligence.

(c)       That the Committee supports the inclusion of the NEW Homes The Walks development costs in the Council’s Fund capital programme in 2016/17 to be funded by prudential borrowing;

(d)       That the Committee notes the Cabinet recommendation to Council changes to necessary strategies and policies including; Treasury Management Strategy, Prudential Indicators, Minimum Revenue Provision Policy and Accounting Policies;

(e)       That the Committee notes the Cabinet recommendation to dispose of HRA land at the Walks to NEW Homes (subject to Welsh Government consent) for c£187K, subject to final valuation of abnormal costs; and

(f)        That the Committee notes that NEW Homes will develop a joint Marketing and Estate Management Strategy (including a Local Lettings Policy) with the Council for The Walks.