| Topic: | Re:Re:Re:Re:Re:Re:Re:Watermans v Social Housing | |
| Posted by: | Theo Dennison | |
| Date/Time: | 01/11/17 00:43:00 |
| The 'affordable' element is dealt with through the planning process. The Council has asked for an option to buy any or all of the units on the Police Station site as one of its terms for putting its freehold interest into the development and topping its equity share up to 50% with a cash equivalent. That would make the Council effectively a silent partner in the scheme and we would then use the Council's share of return (and our original stake) to purchase the units. I think I was rather clearer on this at the public meeting last January but hopefully you get the point. Because values and returns are unknown at this point, it isn't possible to specify how many units it would involve or the proportion. It's not written into the planning application, though it ought to be mentioned - it is one of the reasons why this development is different from others where the Council's only involvement is as a planning authority. |