Decision details

RESOLVED:-

      i.        Cabinet agreed to the acquisition of the Catalyst Housing owned land and buildings necessary to implement the entire redevelopment of the Church End car park site (see confidential appendix three for details of the proposed purchase price)

    ii.        Cabinet, in respect of the Catalyst land, agreed to capital investment of £21.8m to bring forward the development of the planning consented 65 homes and associated commercial units on the Church End car park site.

   iii.        Cabinet noted that £8.2m was approved for the development of 34 new homes on the adjoining council owned site, due to increased build costs, that Cabinet approve an additional £500k.

   iv.        Cabinet noted, the total investment required for the redevelopment of the Brent & Catalyst land is a total scheme budget of £30.5m.

    v.        Cabinet delegated authority to the Strategic Director of Resources in consultation with the portfolio lead member to finalise contract terms and appropriate the land referred to in paragraph 2.1.