Decision details

New Quarter acquisition in the Housing Revenue Account 1

Decision Maker: Chief Executive

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

Report set out the reasoning and arguments for acquiring the 109 units of accommodation being built by Dukelease at the New Quarter. Councillors were asked to endorse the acquisition and there were some delegated decisions for officers to complete due diligence.

Decision:

II.Agree to delegate authority to the Leader of the Council and the Chief Executive of the Council to negotiate and agree the final offer to the developer subject to a second valuation.

Alternative options considered:

Option 1 - to purchase the units
Option 2 - not to acquire the units (at the risk of not being able to house keyworkers and creating housing pathways for those in temporary accommodation).

Reason Key: Expenditure > £500,000;

Contact: Tracey Kerly, Chief Executive Officer Email: tracey.kerly@ashford.gov.uk Email: tracey.kerly@ashford.gov.uk Tel: 01233 330201.

Publication date: 02/10/2020

Date of decision: 25/06/2020