Regeneration & Asset Management, Culture & Housing Cabinet Members – Minutes – 22 August 2012

In accordance with the Executive Procedure Rules of the council’s Constitution, the Deputy Leader was authorised to take the following decision on behalf of the Regeneration Cabinet Member in her absence.

1 (1) NEW HOMES BONUS INVESTMENT – The Director of Places submitted a report setting out progress with the financial plan for the investment of New Homes Bonus under the strategy agreed on 23 February 2012.

A report setting out the financial strategy for investing New Homes Bonus payments was approved in February 2012 (minute 1 refers).  The strategy set out three investment priorities.

The Head of Regeneration and Planning, now the Assistant Director for Planning and Regeneration, was delegated to manage the New Homes Bonus fund in accordance with the financial plan attached to the strategy.

The report advised Cabinet Members of investments during the current financial year to deliver housing led economic growth in response to the strategy.  The details of the individual schemes were set out in Appendix 1 to the report.  Appendix 2 to the report set out potential spend on other projects that were currently under development.

Resolved – (a) That the New Homes Bonus funding be utilised to support the projects as set out in Appendix 1 to the report, and (b) that further reports be submitted in due course as proposals for investment of the New Homes Bonus are developed.