Decision - New Homes for Neighbourhoods - Development of New Homes on Housing Revenue Account Land

(1)      That it be agreed that in relation to the HRA owned car park site at Ardingly Street, Kemp Town, Brighton that the proposed design is submitted for planning approval and that an indicative capital budget of £1.1m and borrowing requirement of £0.56 m is included in the 2015/16 Capital Programme to fund this scheme.

(2)       That it is noted that this scheme is based on the rent model set at 80% market rent capped at LHA rate.

(3)       That the estimated levels of subsidy required from the HRA be approved if the rents are set at 80% market rent capped at LHA rate and that delegated authority be given to the Executive Director of Environment, Development and Housing and the Executive Director of Finance and Resources in consultation with the Estate Regeneration Member Board to agree reasonable amendments to that subsidy if changes arise.