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RESOLVED to
 
1.           
Increase the Total Scheme Cost of the Programme up to
£105m, up from £95.3m noting that borrowing will fall
by £26.5m due to increases in external subsidy.
 
2.           
Increase the Refurbishment contract component of the March
2023 M&C Report from £4.5m to £6.75m which reflects
the higher refurbishment cost per unit of units acquired and
approve any necessary contract variation.
 
3.           
Continue the programme to acquire up to 300-unit programme,
with reviews very 50 units to be approved by the Executive
Directors for Place in Consultation with the Executive Directors of
Corporate Resources and Housing and in consultation with the
Cabinet Member for Regeneration and Place.
 
4.           
To extend the programme from March 2026 to March 2027 to
ensure the delivery of the full 300 units, if
progressed.
 
5.           
To increase the development allowance from to 2.5% to 3.5% to
reflect that the scheme is now acquisition and works not
acquisition only, as originally envisaged.
 
6.           
To lease HAP units to Lewisham Homes Limited, if required,
subject to the required governance processes of both
bodies.