Decision Maker: Cabinet
Decision status: Recommmend Forward to Council
Is Key decision?: No
Is subject to call in?: No
The Cabinet will be asked to recommend approval of the Barley Homes Business Plan.
RECOMMENDED TO COUNCIL: (17 December 2019)
That:-
1. Taking into account the financial and risk implications set out in Report No: CAB/WS/19/041 and Exempt Appendix A, the Barley Homes Business Plan 2019 be agreed.
2. In order to bring the Barley Homes Business Plan 2019 into effect:
(a) A revenue budget of £350,000 be established to fund the Council’s share of costs to progress planning applications for the Mildenhall site and also the development of future pipeline sites;
(b) A capital budget of £5m be established, funded from the Investing in our Growth Agenda, to support the issuing of equity and loan financing (to increase the existing £7.5m facility) to facilitate the development of the two additional sites identified in the Business Plan;
(c) It is noted that in order to facilitate the developments within the Business Plan, the Council will be required to acquire sites from partners and subsequently dispose of these to Barley Homes.
Report author: Julie Baird
Publication date: 27/11/2019
Date of decision: 26/11/2019
Decided at meeting: 26/11/2019 - Cabinet
Accompanying Documents: