Decision details

SHL New Development Loan Extension (SS5)

Decision Maker: Cabinet

Decision status: For Determination

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To approve the extension of prudential borrowing arrangement between the Council and SHG.

Decision:

The Cabinet has considered a report that identified the ways in which the Council could continue to maximise the provision of new, affordable housing within the Borough and has given approval to the extension of the existing rolling loan facility to Stockport Homes to enable development through Viaduct Housing Partnership by £14.9m, from £77m to £91.9m, to continue to enable significant affordable homes to be developed and built up to 2024/25, with the option to utilise, where appropriate and prudent, for market sale and market rent.

Alternative options considered:

None.

Interests and Nature of Interests Declared:

None.

Reason Key: Affects 2 or more wards;

Wards Affected: (All Wards);

Equality and/or Environmental Impact Assessment: Yes

Decision Reference: CAB215

Declarations or conflicts of Interest: None.

Forward Plan Reference: SS5

Other reasons / organisations consulted

Portfolio Holder, CLT, Scrutiny

Contact: Mark Glynn, Service Director, Place Management Email: mark.glynn@stockport.gov.uk Tel: 0161-474-3700.

Report author: John Kennedy

Publication date: 05/02/2020

Date of decision: 04/02/2020

Decided at meeting: 04/02/2020 - Cabinet

Effective from: 12/02/2020

Accompanying Documents: