Purpose

Following Cabinet approval (3 March 2011) the
Council was awarded capital grant funding of £0.895m by Homes
and Communities Agency (now Homes England) in February 2011 for the
acquisition of the site at Westmoreland House, Stoke Croft, and
selection of a development partner. This supported the
council’s strategy at that time to redevelop the site. The
cabinet approved report’s risk assessment stated that the
grant’s terms would allow Homes England (Homes and
Communities Agency) to recall the grant if unspent. It was
subsequently not possible to progress acquisition of this site.
Consequently, this unspent Capital grant allocation of
£0.895m will now be returned to Homes England. This decision
has no budget impact on either Capital or General Fund
Revenue.

Content

Executive Director: Growth and Regeneration to
approve the return of the unspent Capital grant allocation of
£0.895m to Homes England.