Issue - decisions
Riverside Housing Association and Wirral Council's Joint Challenge Fund
A report by the Acting Director of Regeneration, Housing and Planning informed the Cabinet that in 2005 the Council had agreed to the sale of sites within the Beechwood and Woodchurch estates to Riverside Housing Association (now known as Riverside) and to Lowry Properties Ltd for housing development. As part of the development agreement Lowry Properties agreed to pay overage on the sale of each property on these sites into a Challenge Fund account, to be set up in the joint names of Riverside Housing Association and Wirral Council.
The Agreement stated that the Challenge Fund resources should be administered by Riverside Housing Association (now known as Riverside) in accordance with its rules, and in consultation with the Council, and should be used for the benefit of the residents of the Beechwood and Woodchurch estates. In November 2010 payments were received into the Challenge Fund and mechanisms now needed to be agreed to enable the Fund’s resources of £250,000 to be distributed. Appended to the report were draft terms of reference for the Challenge Fund Working Group.
Assets, liability and obligations of the Riverside Housing Association Ltd, being party to the original agreement, were transferred to Riverside Group Limited (Riverside) (Company Number 4091048).
RESOLVED: That the Cabinet agrees
(1) to the setting up of a Joint Working Group with Riverside to oversee the distribution of the Challenge Fund in accordance with the requirements of the Legal Agreement dated 19th May 2005;
(2) that the Council’s membership of this Joint Working Group should comprise the Cabinet Member for Housing and Community Safety; the Acting Director of Regeneration, Housing and Planning, or deputy; and the Director of Law, HR and Asset Management; or deputy;
(3) the draft terms of reference for the Working Group, including that the Council representatives on the Challenge Fund working group be the Council authorised signatories for the release of money from the Fund;
(4) the draft eligibility criteria for the use of the Challenge Fund;
(5) to the request from Riverside for council officers to work in partnership with the Association to administer the Fund and that the £5,000 that could support this function is not drawn down, but left in the Fund for the benefit of the communities of Beechwood and Woodchurch; and
(6) that officers should work with the Beechwood and Ballantyne Neighbourhood Management programme, the Beechwood Community Association and the Woodchurch Partnership to identify proposals for the use of the Fund.