Decision details

The Cabinet will be asked to consider a new business plan for Barley Homes and associated funding requests. Although it is anticipated to be a key decision of Cabinet, this may require a recommendation to Council for approval.

Resolved: That

1.       taking into account the financial and risk implications set out in Report number: CAB/WS/20/079 and Exempt Appendix A attached, the Barley Homes Business Plan 2020, be approved.

2.       in order to bring the Barley Homes Business Plan 2020 into effect:

a.       A further £60,000 be allocated to support the costs of progressing the Great Barton and Rougham sites and the development of future pipeline sites, funded from the Investing in our Growth Fund.

b.       The existing investment fund available to Barley Homes be increased by £1.75 million to a total of £14.25 million to facilitate the developments within the Business Plan, funded from the Investing in our Growth Fund.

c.       It be noted that in order to facilitate the developments within the Business Plan, the Council will be required to acquire sites from One Public Estate partners and the market, funded from the £14.25 million investment fund and subsequently dispose of these to Barley Homes at market value at the time of sale.