Content

Salford City Council - Record of Decision
Title:
Transfer of
Affordable Homes Developed by The Council at the Former Irwell
Valley Site, Blandford Road, Salford to DériveRP
and Dérive Group
 
I, Councillor Tracy
Kelly, Deputy City Mayor, in exercise of the powers contained
within the City Council’s constitution do hereby;
 
1.   
Approve the disposal of 46 properties at the Irwell Valley
site to Dérive RP for a term of 999
years.
2.   
Approve the Underlease of 5 properties at
the Irwell Valley site from Dérive RP to Dérive Group for a term of 999 years less 10
days.
3.   
Approve the lending of
£5,340,943to Dérive RP to fund the acquisition and
associated costs of 41 units.
4.   
Approve the lending of £415,861 to
Dérive Group to fund the
acquisition and associated costs of 5
units.
5.   
Delegate authority to the Executive
Director Place in consultation with the S151 officer to: negotiate,
agree, and finalise the detailed terms of the
transaction.
6.   
Authorise the Shared Legal Service to
prepare all necessary documentation and to take all steps which are
required to give effect to the above recommendations.
 
The Reasons
are to enable new affordable housing delivery.
 
Assessment of Risk; medium 
 
The source of funding: Housing Capital Programme,
with loan to be repaid by Derive RP over 40
year term.
 
Legal Advice obtained:  Kate Bouchier, Shared Legal Service.
 
Financial Advice obtained:  David R Mills,
Finance.
 
Procurement Implications: N/A
HR
Implications/Advice:
N/A
 
Climate
Change Advice Obtained: In Consultation with Mike Hemingway -
Principal Officer - Climate Change
 
 
The
following documents have been used to assist the decision
process:
Public
briefing report submitted to Property/Regen Briefing on 23 October
2023

Contact Officer:
John
Nugent, Asst Principal Development Surveyor (Property
Services)     
Tel No
0161 779 6072

 

 

 

This
decision is not subject to consideration by another Lead Member/
Executive Director

The appropriate Scrutiny Panel
to call-in the decision is the
Growth and Prosperity Scrutiny
Panel.

 

 

Signed:
Councillor Tracy
Kelly
Deputy City Mayor
Date: 23 October 2023
 

 

*          
This decision was published on Monday 23 October 2023.

*          
This decision will come in force at 4.00 pm on Monday 30 October
2023 unless it is called-in in
accordance with the Decision Making
Process Rules.
 
This decision was called-in on 30 October
2023. 
 
A meeting of the Growth & Prosperity
Scrutiny Panel was held on 13 November 2023 to consider the call-in
at which it was decided that no further action would be taken, and
the decision therefore came into effect on that day.