Purpose

To get Executive approval for the proposed
delivery and funding of the affordable housing scheme at Wellington
Road, Wokingham

Content

RESOLVED: that Executive
approved:
 
(1) 
the expenditure budget of the total costs of the
scheme of up to £6,600,000 be funded through a combination of
borrowing, capital receipts, developer contributions and Homes
England funding. To note: budget approval would be dependent on
Homes England grant being awarded;

 
(2) 
the release of up to £3m commuted sums
(developer contributions for affordable housing) to be used in
conjunction with borrowing via the Housing Revenue Account
(“HRA”) and Homes England grant as per the proposed
funding model;
 
(3) 
that the scheme goes into the Housing Revenue
Account (“HRA”).