That the disposal of the land edged red in plans EM2354a and EM1687 at Appendices 1 and 2 to this Record of Decision in respect of 286-288 Totnes Road and Redwell Lane to the Torbay Housing Company Ltd to deliver affordable housing in return for 100% nomination rights in perpetuity and help meet the objectives identified in the housing strategy be approved and that delegated authority be given to the Chief Executive in consultation with the Executive Lead for Planning, Transport and Housing to agree the detailed terms of these disposals.

On 1 May 2014 and 28 February 2008 a decision was taken by The Elected Mayor to dispose of the sites at Totnes Road and Redwell Lane at auction at open market value which would provide a capital receipt for the Council. The Elected Mayor rescinded the previous decisions to sell at auction 286 – 288 Totnes Road and land at Redwell Lane on 7 November 2017 and to instead recommend the Council to dispose of the sites to Torbay Housing Company Ltd to meet the objectives of the Housing Strategy (The Elected Mayor’s decision is attached to this Record of Decision).  The proposed change to this decision will mean the Council will forgo any capital receipt in lieu of the provision of affordable housing. In recent years the Council has been reliant on planning gain for their affordable programme and by transferring these sites to the Councils Housing Company it can kick start the Council’s own build programme to meet the strategic housing needs.

Dispose of the sites at open market value to maximise the capital receipt to help fund the Councils Capital programme.

To use both sites for self build housing.  After further investigation it was deemed that both sites would prove too problematic for this type of housing provision.

Disposal to a registered provider for 100% affordable housing at nil value.

Dispose of the site at open market value and then use any receipt to reinvest in affordable housing by giving grants to Registered Providers. While this is an option, over recent years Registered Providers have not come forward with their own developments due to the availability of sites and therefore it is likely that the money would be difficult to invest in this way.

This decision will come into force and may be implemented immediately.

Torbay’s Housing Strategy 2015 – 2020 states that 70 affordable homes are to be provided each year and by providing affordable housing on these sites it will go some way to helping the Council achieve this objective.

Both sites were identified as no longer required for service delivery and have previously received Council approval to be disposed of.  As part of this disposal process both sites went through the Community Asset Transfer process.

There are currently over 1,700 households on the waiting list for affordable housing and providing affordable housing on these sites will play a part in providing much needed accommodation for local people.

It is anticipated that both sites will generate circa 12 homes for local people.  It is envisaged that these developments will meet the objectives of the Housing Company and assist in the delivery of much needed affordable homes.

None.