Decision

RESOLVED that:

1. authority be delegated in accordance with the Place Directorate Scheme of Management, in consultation with the Portfolio Holder for Housing, to acquire:

(a)       leaseholder / freeholder interests in properties located in Phase 3 of Cambridge Road Estate (CRE) regeneration programme; and

(b)       interests in off-site properties for the purpose of granting a shared equity lease of those properties where requested by qualifying leaseholders / freeholders in Phase 3 who opt to move off the Estate (in accordance with the CRE Landlord Offer);

1. authority be delegated in accordance with the Place Directorate Scheme of Management, in consultation with the Portfolio Holder for Housing, to acquire properties in Phases 4 & 5 of the regeneration programme where these are occupied by resident leaseholders / freeholders who wish to move into a shared equity / ownership property in an earlier phase of the new neighbourhood;
2. authority be delegated in accordance with the Place Directorate Scheme of Management, in consultation with the Portfolio Holder for Housing, to acquire homes from the Cambridge Road (RBK) LLP that are designated for shared equity / ownership and to dispose of these homes to eligible purchasers by way of a shared equity / ownership lease; and
3. authority be delegated to grant shared equity leases of CRE related on-site and off-site shared equity / ownership properties to qualifying leaseholders / freeholders as follows:

where value is £500,001 - £1m Chief Executive or Section 151 Officer;

where value is £50,000 - £500,000 Directors and Director of Development-CRE.