Issue details

Building the Homes We Need to House the People of Lambeth - Establishing a Special Purpose Vehicle

This report has been prepared in response to the Council’s requirement to examine the business case for the creation of a new housing venture to facilitate investment and development in new housing that meets the needs of Lambeth’s current and future residents, as articulated in the Cabinet report dated December 2014.

This report presents the outline business case for such a venture and makes structured proposals for the creation of a new venture that will effectively empower the Council to take much greater control over the pace and focus of housing delivery in the borough, thereeby supporting the fulfilment of the Council’s objectives to meet both housing and the wider needs of Lambeth’s residents, through the delivery of new housing across a range of tenures and complementary development activities.

Cabinet will be asked to recommend that Council officers proceed to formally set up the New Venture and to proceed to develop a full business plan for a portfolio of initial development sites.

Decision type: Key

Reason Key: 4. Both, Financial and Community Impact;

Decision status: Recommendations Approved

Wards affected: (All Wards);

Notice of proposed decision first published: 04/09/2015

Anticipated restriction: Part exempt  -

Explanation of anticipated restriction:
The accompanying part II Report is exempt from publication by virtue of the following paragraph of Schedule 12A of the Local Government Act 1972:
3. Information relating to the financial or business affairs of a particular person. (Including the authority holding that information).

Decision due: 12 Oct 2015 by Cabinet

Department: Neighbourhoods & Growth

Consultees

Individual developments will require significant engagement with the local community. This is already apparent on the estate regeneration programme and on housing projects such as Somerleyton Road.

Decisions

Agenda items