Agenda item

Matters considered by the Cabinet and/or Scrutiny Committee:

Minutes:

(a)       Christmas Parking 2021

 

Councillor Fleming moved and Cllr McArthur seconded the recommendation from Cabinet, which sought funding for free parking to be provided for two weekends leading up to Christmas in Sevenoaks town and Westerham in off- street car parks on Saturdays and Sundays, 11 & 12 and 18 & 19 December 2021.

 

Resolved: That the cost in terms of loss of income for free Christmas parking be met from Supplementary Estimates.

 

(b)           Farmstead Drive – Development Proposal

 

Cllr Fleming moved and Cllr Maskell seconded the recommendation from Cabinet, which sought the approval for the provision of £7,609,620 in the 2021/22 Capital Programme to deliver the scheme, which was to be funded as noted in the Financial Implications of the report.

 

Resolved: the provision of £7,609, 620 in the 2021/22 Capital Programme to deliver the scheme within the financial implications, detailed as (i) to (vi) below, be agreed:

 

                  i.           The scheme be intended to be funded (ultimately) from capital receipts from the sale of residential units in the scheme;

 

                ii.           A summary of the estimated scheme funding, based on feasibility to date;

 

              iii.           23 residential units would be disposed of in the open market and according to the Council’s property consultant, which were expected to generate a sales receipt of £8.143m. The affordable housing units were expected to generate £1.172m and would be discounted to reflect development costs and were in line with current market practice for affordable housing;

 

               iv.           Until receipts from the sales of the residential units were received, short-term external borrowing be used to fund the scheme. Potential financing costs were detailed within paragraph 18 of the report;

 

                 v.           The new retail unit would be retained by the Council, and let on market terms. The Community Hall be leased to reflect community benefit, but also to ensure future on-going liabilities be recuperated; and

 

               vi.           Consideration be given to the VAT implications of the project, dependant on the use of some of the elements of the project may require specific VAT treatment and further VAT advice be sought.

 

(c)           Stangrove Estate

 

Cllr Fleming moved and Cllr Dyball seconded the recommendation from Cabinet, which sought the approval of the capital funding of the scheme as outlined at paragraph 15 (project costs & funding), it be noted that the scheme would only progress subject to the funding gap being eliminated, and the development scheme for 7 sites within Stangrove Park, Edenbridge to provide 7 off-street, communal car parks, a new community shop, improvements to landscaping and 13 residential units at an estimated total project cost of £4,312,743, as set out at paragraph 15.

 

Resolved: that

 

a)      the capital funding of the scheme of £4,312,743 be agreed;

 

b)     that the scheme would only progress subject to the funding gap being eliminated and planning permission being obtained, be noted;

 

c)      subject to approval of the recommendation (a) the development scheme for 7 sites within Stangrove Park, Edenbridge to provide 7 off-street, communal car parks, a new community shop, improvements to landscaping and 13 residential units at an estimated total project cost of £4,312,743, as set out at paragraph 15, be agreed.

 

(d)           Quercus Housing – Increasing the Delivery of Affordable Housing in the Sevenoaks District

 

Cllr Fleming moved and Cllr Maskell seconded the recommendation from Cabinet, which sought approval of a revised 2021/22 Capital Programme that excluded the Property Investment Strategy Scheme, which would give the Council access to Public Works Loan Board (PWLB) borrowing to enable the scheme to progress; the draw-down of a loan from prudential borrowing (for example, through PWLB) for up to £1,050,000 which would then be loaned to Quercus Housing to progress the capital purchase and refurbishment of Abbey Court (West Kingsdown), subject to due diligence, to support the delivery of affordable housing in the district, and The terms of the loan be determined at the point of draw down by the Head of Finance.

 

The Leader responded to questions raised, and explained that due to the nature of the church land and covenants on it, the site would not necessarily be available for a normal developer to develop, which was why it was being sold as the Council could deliver a scheme which also met the Church of England directives to meet affordable housing in the area. It would be managed similarly to the scheme in Westerham for the residents of the District who the Council had responsibility for. It would be managed by agents but the Council would be in control of this.

 

Resolved: That the

 

a)      a revised 2021/22 Capital Programme (Appendix C) that excluded the Property Investment Strategy scheme which would give SDC access to Public Works Loan Board (PWLB) borrowing to enable this scheme to progress, be approved;

 

b)     draw-down of a loan from prudential borrowing (for example, through PWLB) for up to £1,050,000 which would then be loaned to Quercus Housing (as the Trading company) to progress the capital purchase and refurbishment of Abbey Court (West Kingsdown), subject to due diligence, to support the delivery of affordable housing in the district, be approved; and

 

c)      terms of the loan be determined at the point of draw down by the Head of Finance be agreed.

 

Supporting documents:

 

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