Issue - meetings

Key Decision identified as Housing Investment Programme in the Notice of Key Decisions published on 27 October 2020.

Recommendation for Full Council – Not Subject to Call-In

Councillor D Wright, Cabinet Member for Economy, Housing, Transport and Infrastructure presented the report of the Chief Executive Officer, which focussed on Nuplace Limited, the Council’s wholly owned housing company, and provided an update on achievements over the last year, and committed developments. The report also presented an updated Business Case.

Nuplace’s growing housing portfolio provided a range of homes across the Borough with houses available within North and South Telford and Newport. Over 1000 people were now living in Nuplace properties across the Borough. Lettings across the portfolio remained strong, with voids of 1.88% cumulatively since the first site opened, well below the predicted level of 3%.

The programme had also resulted in over 23 acres of brownfield land being regenerated, delivered added value in terms of local employment, apprenticeships, supply chain development and the delivery of a range of community projects. The Council also benefits from Council Tax and New Homes Bonus as appropriate on the housing stock delivered. This was estimated to have generated a cumulative net incremental income of £4.4m to the Council. The report outlined the future plans of the company which included renovation and restoration of some historic buildings in the Borough, such as New College Wellington.

Members welcomed the report, and expressed pride in the programme and the provision for local people, particularly noting other authorities were seeking to replicate the scheme. Members particularly welcomed the regeneration of heritage buildings and sustainable homes.

The Conservative Group Leader asked a question in relation to profit and Teckal exemptions, it was confirmed that there was not a significant risk in relation to this.

RESOLVED – that

a)    the revised Business Case included in Appendix 1 of the report be    approved

b)   the allocation of £38.5m from the Regeneration and Investment Fund to support the developments as set out in the report be approved

c)    the approval of an extension to the Nuplace Loan Facilities     Agreement of £36m, the rate and terms to be delegated for approval to the Council’s s151 Officer in consultation with the Cabinet Member for Council Finance & Governance be RECOMMENDED TO COUNCIL

d)   authority be delegated to the Chief Executive in consultation with      the Housing Investment Programme Board to:

i)             agree and enter into where necessary any documents, as required, to implement the recommendations contained within the revised Business Case

ii)            agree and enter into where necessary any agreements, as required, for the disposal or acquisition of land required to give effect to the recommendations contained within the Business Case

e)    authority be delegated to the Associate Director: Policy & Governance to seal or sign any documents required to give effect to the recommendations contained within the report.