12 Strategic Housing; CCRCD Viability Gap Funding PDF 520 KB
To consider the report of the Team
Consideration was given to report of the Team Manager Thriving Communities.
The Team Manager presented the report which outlined the Cardiff Capital Region City Deal (CCRCD) Viability Gap Fund opportunity, and identification of potential development sites. The report also sought Committee support to progress business case(s) and associated work in order to determine Viability Gap Funding and support an application to CCRCD.
The Officer spoke to the report and highlighted points contained therein. She said based on the eligibility criteria, the housing delivery group had considered known development sites and undertaken a broad assessment to identify those sites that, in principle, meet the fund requirements, and these were outlined in Appendix 2. The Ashvale Site was currently identified as the site most aligned to the criteria and in a position to progress.
She said utilising the available revenue fund would assist in providing a dedicated resource to support the project delivery team in satisfying the Viability Gap Fund requirements within the restricted timescales. To access funding, match funding would need to be identified and a meeting with the Resources Section had been arranged.
Members welcomed the report.
The Committee AGREED to recommend that the report be accepted and supported Option 1, namely to:
i. Note the Cardiff Capital Region City Deal (CCRCD) Viability Gap Fund opportunity; including the current position within Blaenau Gwent in respect of identifying potential development sites; and
ii. Endorse and recommend Executive approval of continued exploration of the identified sites in order to determine the viability gap; and where appropriate progress business case(s) and associated work to support an application submission to CCRCD Viability Gap Fund.