DECISIONS - The Cabinet:
(1) Noted the cross directorate engagement undertaken to identify the five sites and the officer recommendations.
(2) Approved the principle of redevelopment of the five sites for the purposes of housing delivery, subject to a planning permission being granted.
(3) Delegated to the Section 151 Officer, in consultation with the Leader, Cabinet Member for PRED, Cabinet Member for Housing and Director of Regeneration, to agree the development strategy and preferred delivery route for each site, subject to a business case review, with a view to maximising affordable housing across the 5 sites to meet local housing need.
(4) Delegated authority to the S151. Officer to lend monies to the Arms-Length Development Company (ALDC from hereon in referred to as Ravelin) within the limits of the Council's treasury Management Strategy and following production of a full and proper financial appraisal demonstrating viability of each project.
(5) Approved in principle the appropriation of land between the Council and Ravelin, to deliver the five site projects. The transfer of land will be delegated to the relevant Cabinet Member dependant on the site ownership and the Section 151 Officer with the timing of this subject to a final project specific business case being approved. All transfer will be carried out in line with treasury guidance using red book valuations.