e-ITT for Consultant advice on investment in Affordable Housing at Welborne Garden Village

Description

The Council has been invited by Welborne Land Limited to form a Joint Venture for the ownership and management of the affordable housing units built by Welborne Land Limited at Welborne Garden Village. The Council wishes to commission high-level advice on this JV proposal, specifically to understand the financial implications and key risks to the Council, and to understand what alternative mechanisms there might be for them to have a role in the ownership and management of the affordable homes at Welborne. The Council also seeks an insight into the advantages to Welborne Land Limited (and the Council) in creating this JV as proposed, and why this is a better alternative for both parties than the straight-forward provision of affordable housing as envisaged in the s106 Agreement. The Council will also require ongoing support and advice in its negotiations with Welborne Land Limited on this matter

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