Decision details

Cabinet:

1. Agreed that the council enter into a maximum fixed price contract with Willmott Dixon at Alderman Moore’s site for the construction of 133 new mixed tenure blind homes and delegated authority to the Executive Director (Communities) to conclude legal formalities and manage the contract including any savings which might arise during the construction phase.

2. Approved the financial and funding arrangements as set out in this report as follows:-

•      Maximum Total scheme costs (council and sales and includes Contingency) - £24.14m

•      Income from sales (and anticipated RHI payments) - £19.4m

•      Total residual investment required by HRA - £4.74m

3. Agreed the use of £2.9m (30%) of 1-4-1 RTB receipts towards the cost of constructing the council units plus a proportion of the infrastructure costs. In overall terms, the use of RTB receipts results in a net cost to the HRA of £1.84m.

4. Approved the development of a Management Company to look after the estate post completion and delegated authority to Executive Director (Communities) in consultation with the Service Director of Legal and Democratic Services and the relevant Cabinet Member to agree the details

5. Agreed that an incentivisation agreement with Wilmot Dixon is developed and entered in to and to delegated authority to Executive Director (Communities) to agree the details of the payment structure in consultation with the relevant Cabinet Member.