Affordable Housing and Oxfordshire Growth Deal - Heylo Housing
Cabinet, at its meeting on 28 May 2021, considered the confidential report of the interim head of development and regeneration on an affordable housing scheme with Heylo Housing. Cabinet supported the scheme and recommended Council to approve the funding.
The confidential report considered by Cabinet at its meeting on 28 May and a summary of Cabinet’s considerations are attached.
Additional documents:
Minutes:
Council considered Cabinet’s recommendation, made at its meeting on 28 May 2021, on a proposal for funding through the Oxfordshire Growth Deal and S106 affordable housing commuted sums to support the development of an affordable housing scheme by Heylo Housing of up to 45 affordable homes for low cost home ownership in Vale.
The Cabinet member for development and infrastructure reported that the scheme would provide 45 affordable homes of various sizes and in various locations across the Vale. They would be available for shared ownership—part buy/part rent—to make them more affordable. The shared ownership would be available from as low as 25 per cent, rising to 75 per cent. All information about the scheme and the shared ownership would be published to the council’s website.
Cabinet had supported the proposal, as it would provide a mix of house types in several locations. Cabinet had noted that the Growth Deal funding was insufficient to cover the whole cost but agreed to use affordable housing commuted sums from section 106 agreements in the district to cover the necessary costs. The scheme would also provide prospective homeowners with a 25 per cent shared ownership option but allowed a higher ownership percentage if preferred. Cabinet had welcomed the proposal and recommended Council create the necessary budget.
RESOLVED: to create a capital budget of £1,882,800 towards the Heylo Housing project for the acquisition of 45 dwellings to be made available for ‘part buy/part rent’ home ownership, comprising a virement of £1,491,400 from the existing capital budget for growth deal affordable housing and funded by the Growth Deal, and £391,400 from Section 106 (S106) affordable housing commuted sums of which £366,400 is direct project funding, and £25,000 towards legal and finance fees.
Affordable Housing and Oxfordshire Growth Deal - Heylo Housing
To consider the report of the interim head of development and regeneration.
Additional documents:
Minutes:
Cabinet supported an affordable housing scheme with Heylo Housing and recommended Council to approve the funding.
01235 422520
(Text phone users add 18001 before dialing)
Vale of White Horse District Council
Abbey House, Abbey Close,
Abingdon
OX14 3JE