Issue - meetings

(Copy herewith)

1.    Cabinet approved the principle of Belgrave House being converted into 120 affordable rented apartments which will be leased to the Council by Legal & General (the owner of the building), retained within the Housing Revenue Account and managed and maintained by Northampton Partnership Homes.

2.    Cabinet approved the action that the Council and Northampton Partnership Homes are taking to progress the development of Belgrave House, including the expenditure that is being incurred in relation to the assessment, design and ‘due diligence’ work carried out on Belgrave House.

3.    Cabinet agreed to receive a further report in May 2019 when approval will be sought for the Council to enter into an investment arrangement with Legal & General, using a financial lease, in order to facilitate the conversion and regeneration of the Belgrave House office building into a residential scheme of 120 apartments.

Councillor Russell welcomed the potential increase in the housing supply and asked for clarification of the criteria for key workers.  The Head of Housing and Wellbeing stated that criteria had not yet been determined, but could include health, social care, teachers, and retail workers.  The housing would be let through Northampton’s housing register to ensure transparency.

Councillor Eldred as the relevant Cabinet Member submitted a report outlining the preliminary work undertaken and recommended that the scheme should go ahead.

RESOLVED:

1.    That the principle of Belgrave House being converted into 120 affordable rented apartments which will be leased to the Council by Legal & General (the owner of the building), retained within the Housing Revenue Account and managed and maintained by Northampton Partnership Homes be approved.

2.    That the action that the Council and Northampton Partnership Homes are taking to progress the development of Belgrave House, including the expenditure that is being incurred in relation to the assessment, design and ‘due diligence’ work carried out on Belgrave House be approved.

3.    To receive a further report in May 2019 when approval will be sought for the Council to enter into an investment arrangement with Legal & General, using a financial lease, in order to facilitate the conversion and regeneration of the Belgrave House office building into a residential scheme of 120 apartments.