(Key decision):
(1) To delegate authority to the Director of Regeneration & Planning in consultation with the Portfolio holder for Housing and the Chief Finance Officer to move the development of the Bedfordwell Road scheme through to Stage 2 of the Clear Sustainable Futures (CSF) process to allow the Council to fully understand the financial and delivery options for the site.
(2) To delegate authority to the Chief Finance Officer in consultation with the Council Leader to release £1.218m from the existing scheme capital allocation to meet the costs of progressing the development of the scheme through to Stage 2 with CSF.
(3) To bring a further report back to Cabinet once the Council has reached Stage 2 and are in a position to report comprehensively on the financial viability of the scheme and to determine the best way of proceeding for tax efficiency purposes and agree a budget in the Housing Revenue Account and/or General Fund.