Decisions

The acquisition of this property will bring in a steady income stream once the site is developed in order for the Council to deliver its ambitious housing and regeneration programme across the Borough to help meet the needs of its residents. The Council needs to generate additional income to offset the revenue impacts of undertaking these projects across the Borough.

The Chief Executive completed the acquisition of the asset in consultation with the Chief Finance Officer, the Leader and the Cabinet Member for Finance.

The Chief Finance Officer decided (i) the most financially advantageous funding arrangements for the purchase, (ii) the most tax efficient method of holding the asset, and overall ensured the acquisition was prudentially affordable.

The Head of Corporate Governance entered into any legal documentation necessary to acquire the asset.

Acquiring the residential property will allow the Council to make a substantial revenue budget saving, whilst providing a stable home for a local family with complex needs, as well as providing an asset for future use should the family choose to move on. The acquisition will add to the Knowle Green Estates portfolio of residential properties.

The Property and Development Manager completed the acquisition of the asset in consultation with the Leader, Portfolio Holders for Housing, and Corporate Management and the Chief Finance Officer.
The Chief Financial Officer:
i) made prudent borrowing arrangements for the transaction and ii) determined with Knowle Green Estates Ltd the most financially prudent way of financing the transaction between the Council and the Company.
The Head of Corporate Governance entered into any legal documentation necessary to acquire the asset.

To acquire a building which would bring in a steady income stream for the term of the lease. The income stream will assist in the future ongoing financial stability of the Council.
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The Chief Executive decided in consultation with the Chief Finance Officer, the Leader and the Cabinet Member for Finance not to proceed with the acquisition.

To acquire a building which would bring in a steady income stream for the term of the lease. The income stream will assist in the future ongoing financial stability of the Council

The Chief Executive decided in consultation with the Chief Finance Officer, the Leader and the Cabinet Member for Finance not to proceed with the acquisition.

To seek approval of expenditure for a design team for the redevelopment of the White House Hostel across financial years 2018/19 and 2019/20.
Re-development of the site will provide much needed hostel accommodation for homeless residents within the Borough. This will assist the Council in meeting its statutory obligations under the Homeless Reduction Act 2017 to meet this need.

The budget for design fees was approved by Council on 13 December 2018 and the Group Head for Regeneration and Growth in consultation with the Portfolio Holder appointed the advisors and design team. The Head of Corporate Governance entered into any legal documentation necessary to implement the redevelopment project.

Conversion of the West Wing, Council Offices, Knowle Green to residential use will meet the wider objectives of the Council in increasing the provision of housing within the Borough. The ongoing revenue stream (once the works have been completed) will assist in the future long term financial stability of the Council.

Following approval of the budget for design fees for the conversion of the West Wing offices to 25 new apartments by Council on 13 December 2018, the Group Head of Regeneration and Growth in consultation with the Portfolio Holder appointed the advisors and design team and the Head of Corporate Governance entered into legal documentation necessary to implement the redevelopment project.