A new council body to support housing developments in South Warwickshire is a step closer after support from councillors.
Stratford-on-Avon District Council agreed to establish a ‘housing delivery company’, subject to a further detailed business case, at a meeting last night (Tuesday, April 24).
Housing and infrastructure portfolio holder Cllr Peter Richards said: “This is a great step forward and is a key milestone for the delivery of houses in the district and generating some crucial income for the council.
“The district council has been examining options for influencing the local housing market since July, 2015.
Last September a detailed report was requested by the cabinet in order to further inform the consideration of a housing company.
“This report has now been considered by cabinet along with recommendations which will allow the potential for a council owned housing company and any other company which supports the housing company, to move to the next stage of development.”
The key objective of the company is to maximise the council’s financial return from the disposal of its land and property assets, with a preference to generate a secure revenue income streams.
This is in addition to increasing housing supply and in particular the level of affordable housing, encouraging businesses to invest in the district and support the council’s finances in the medium and long term.