RESOLVED to approve:
1) The revised delivery approach for the Building for Lewisham programme, which includes the strategy to put the schemes at Drakes, Greystead, Valentine Court and Fairlawn on hold to enable funding capacity for schemes that are in-contract and/or pipeline opportunities.
2) The budget allocation as set out in Part 2 of this report for the proposed works to rectify latent defects at Longfield Road, the appointment of a specialist consultant to undertake these works, and to delegate authority to Executive Director of Place, in consultation with the Director of Law and Corporate Governance, to agree the instruction of United Living or the procurement of an alternative contractor, to carry out the works, provided the contract value is within authorised limits set out in Part 2 of this report.
3) The transfer of £660,000 of section106 funding from Home Park to Bampton Road as set out within part 2 of this report.
4) The procurement of a contractor to complete the development project on Algernon Road utilising the surplus in the development programme, as set out in part 2 of this report and to authorise the subsequent award of contract provided the contract value is within the authorised limits set out in Part 2 of this report. Mayor and Cabinet are further asked to delegate authority to Executive Director of Place, in consultation with the Director of Law and Corporate Governance, to select the procurement route, final form of contract and to enter into the subsequent award of contract to the preferred contractor, provided the contract value is within authorised limits set out in the Part 2 and the contractor selection is in accordance with the award criteria published in the tender documentation.
5) The revised financial position and budget implications to the HRA and GF as set out within part 2 of this report.
RESOLVED to note:
6) The commercial settlement made to Guildmore Ltd as set out within part 2 of this report.
7) The progress of the programme since December 2023 and the ongoing risks and market challenges that are impacting the delivery of the programme and how they are being addressed and mitigated.
8) That the Council continues to engage with developers to identify acquisition and joint development opportunities and the final terms will be subject to Mayor and Cabinet approval prior to entering into contract.
9) That the Council is also engaging the contracting market to devise an investment partnership approach and that the procurement strategy will be subject to further Mayor and Cabinet approval in September 2024.