Decision details

Community Housing Fund - Grant Application by Peacock and Verity Community Spaces:

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decision:

Subject to legal safeguards and the allocation of the balance of the acquisition price by Karbon, the sum of £72,000 be allocated from the Community Housing Fund (CHF) to Peacock and Verity Community Spaces (P&VCS) as part funding of the purchase of 15 Silver Street, Masham for Community Led Housing (CLH).

 

Reasons for the decision:

It is important that the council supports communities that want to provide affordable housing to meet the needs of local people. Funding of £585,832 was allocated to the council in 2017 as part of a nationwide initiative specifically to meet this objective through the establishment of Community Housing Trusts (CHTs). Approximately £329, 000 of the council’s CHF allocation remains to be committed.

 

Progressing CLH is a slow process. There is interest from a number of groups, but only Masham and Knaresborough CHTs have reached the advanced stage of property/site identification. P&VCS has secured full planning permission to carry out significant works to a building in Masham, including the creation of a Heritage Centre, café, shop and Post Office on the ground floor and four affordable apartments above. CHF grant will contribute towards the housing element only.  Revenue support and significant officer time has been committed to this project over the past three years. 

 

Allocation of CLH grant monies towards the purchase of the building will ‘lever in’ funding for the commercial, heritage and retail elements of the refurbishment and conversion project.  Karbon is working with P&VCS and will provide the balance of the monies for the purchase of the building in accordance with the RICS valuation attached at exempt Appendix B.

 

Alternative options considered:

Not to support the grant application. This would result in the loss of the building at Silver Street, as the owner is now actively considering its sale at auction. Whilst CLH is driven by the community (often volunteers), P&VCS, Karbon and council officers have worked together on proposals, including formal constitution of the CHT, extensive local consultation, submission of a planning application and grant applications. Planning permission was granted in June 2021. 

 

Publication date: 15/09/2022

Date of decision: 15/09/2022

Decided at meeting: 15/09/2022 - Cabinet Member for Housing and Safer Communities

Accompanying Documents: