Issue - meetings

AGREED RECOMMENDATIONS

Reason for decision – as specified in the report.

Other options considered - none.

Conflicts of interest/dispensations granted – none.

RESOLVED:

2.1     That a contribution up to a £7.0m from the RTB receipts be made to the CoLC contributing towards the cost of the housing element of the development, be agreed. It was also agreed that this would secure the council entitlement to:

·       Nominate in perpetuity to 50% of the total number of homes in the development (33 out of 66 homes as set out in the Head of Terms agreement).

·       Receive a 50% share of the income from the office space provided in the new development. Commercial revenue.

2.2     That the Director of Housing and Adult Social Services be authorised to negotiate and agree the terms of the grant agreement, for the contribution from RTB receipts, with the CoLC, in consultation with the Director of Law and Governance and Corporate Director of Resources.

2.3     That, subject to the approval of the GLA, it be noted that the CoLC will be required to use the GLA grant of £3.96m previously allocated to the housing element of the development, to fund a new social housing scheme(s) within Islington. to which the council will have a minimum of 50% of nomination rights based on habitable rooms.

2.4     That the proposal to provide a license to the CoLC to enable asbestos removal, soft strip and demolition of the existing buildings on the site be agreed.

Reason for decision – to provide additional, good quality homes for social rent and the good quality school places to meet basic need.

Other options considered – none other than as specified in the report.

Conflicts of interest/dispensations granted – none.