NFDC agrees purchase of 42 ‘affordable’ homes

NFDC has agreed to buy 42 new affordable homes from a developer.

The price and location of the properties, which are earmarked for social and “affordable” renting and shared ownership, is being kept confidential.

Before the purchase was agreed, a report for councillors said the acquisition would meet housing needs “through the council providing increased numbers of affordable homes”.

It added: “Opportunities will also arise through the development which are likely to contribute towards and reduce pressures on… helping those in our community in the greatest need.”

The report said the council had negotiated a purchase price which reflects what can be paid without a grant based on “current and future rental incomes and capital receipts”.

The developer invited “competitive” offers under a Section 106 agreement between itself and the council to mitigate the impact of developments on local communities, the reported added.

It continued: “Following careful financial analysis and with support from members of the housing development panel a conditional offer was accepted by the developer in April.

“Since then officers and the council’s appointed solicitor have been progressing negotiations and checks to ensure the proposal and package represents acceptable value for money, that the council’s interests will be protected, that the proposed terms of a legal development agreement for constructing the homes – and the final build and finish specification – are acceptable.”