Decision details

To receive a report providing an update on the expenditure incurred on increasing the supply of affordable housing in the Borough, including Monument Way West and Old Woking.

The Executive received a report which provided an update on the expenditure and activities undertaken in order to increase the supply of affordable housing in the Borough.  Officers highlighted two amendments to the resolves before the Executive.  Firstly, that resolves (iii) and (iv) would be subject to planning permission, and secondly, that the reference to the Additional Borrowing bid should be removed from resolve (iv) and be replaced with ‘subject to available borrowing’.  The Executive agreed the amended resolves.

Following a query regarding the figures on current housing needs in the Borough in the report, the Executive was informed that the statistics and advice had been taken from professionals and the information had been used to inform the development within Sheerwater and in the Town Centre.  The Leader agreed to ask Officers to present the figures to the Housing Task Group.

The Leader commented that the Council had a great track record on the provision of affordable homes and stated that 40% of the 1,065 homes provided over the last 4 years had been affordable.  Regarding Brookwood Farm, the Executive was advised that the planning permission had provided £6m for off-site provision of affordable homes and the funds were being used at a site in Brookwood Lye Road.  It was noted that the current application at Brookwood Lye Road included 76 affordable homes on-site, subject to planning permission.

RESOLVEd

That  (i)    the land at the eastern end of Monument Way West be appropriated from the General Fund to the HRA as detailed in the report;

          (ii)   all Affordable Housing Section 106 contributions held by the Council are to be used on HRA or General Fund affordable housing developments;

          (iii)  the Strategic Asset Manager be authorised to implement the Old Woking Sheltered Housing Development based on a budget of £15,000,000, subject to planning permission; and

          (iv)  authority be given to the Strategic Asset Manager to implement the Monument Way Development, subject to available borrowing, based on a budget of £14,871,000, subject to planning permission.

Reason:      To approve proposals to develop additional housing for the Housing Revenue Account.