Decision - Community Housing Pilot Update
Decision maker
Housing Committee
Report author
Emma Kumar
Published
17 Nov 2022
Reference
6763
As published
the council's own words, uneditedRESOLVED: 2.1 That Committee agrees in principle to loan £0.385m to Bunker Co-Operative to support the development of two new affordable homes at Dunster Close, Brighton.
Parsed from the document
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The report proposed that Brighton & Hove City Council agree in principle to lend £0.385 million to Bunker Housing Co-Operative to develop two affordable homes at Dunster Close, Brighton. The loan would remain subject to Bunker obtaining Registered Provider status, agreeing nominations and completing further due diligence, with final budget approval required later.
Recommendation
That the committee agree in principle to loan £0.385 million to Bunker Co-Operative to support the development of two new affordable homes at Dunster Close, Brighton.
Financial impact
A one-off revenue resource of £0.020 million is available for set-up costs associated with the revolving loan facility. The proposed £0.385 million loan is not committed at this stage; its value and timing remain to be determined.
Ward affected
Hollingdean & Stanmer
Decision maker
Housing Committee
Date in document
16 Nov 2022
Stakeholders named
parsed
Bunker Housing Co-OperativeBrighton & Hove City CouncilBrighton & Hove Community Land TrustExisting residentsLocal people and households on the Housing Register
Next steps
parsed- Bunker Housing Co-Operative must successfully obtain Registered Provider status.
- The parties must agree the nominations arrangement.
- Further due diligence must be completed on Bunker Housing Co-Operative's business plan.
- The loan would be issued in stages and secured against the assets being developed.
- A further report must be presented to Housing Committee and subsequently the Policy & Resources committee for final budget approval once all milestones have been met.
Precedents
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