Issue - decisions

That the Corporate Director Communities and Regeneration, in consultation with the Lead Member for Regeneration, Planning & Growth:

i)             Notes that, in response to changed circumstances set out in section 3 of the accompanying report, it is proposed to restructure the nature of the grant funding provided, pursuant to the Borough Intervention Agreement entered into with the Greater London Authority (GLA) on 28 March 2018, and to secure the delivery of affordable dwellings at the Cecil Avenue and Ujima House Schemes in a different manner to that contemplated in the Borough Intervention Agreement.

ii)            As a result of the changes in circumstances, approves the termination of the Borough Intervention Agreement with the GLA entered into on 28 March 2018, pursuant to which grant funding to a maximum of £8m was payable to the Council to be used for the Cecil Avenue and Ujima House schemes.

iii)           Approves increased grant funding of £18.484m now secured from the GLA for the Cecil Avenue and Ujima House schemes is now delivered under the Building Council Homes for Londoners grant scheme.

iv)           Approves the variation of the Overarching Borough Agreement with the GLA entered into on 31 March 2016, to update the funding allocations and outputs to align with current schemes and plans.