Full Council To Vote On Major Social Housing Policy

A policy to ensure land and property assets owned by the Isle of Wight Council are, wherever possible, used to prioritise social housing will come before full council tomorrow.

Councillors will vote on whether to agree and adopt the Land and Property Asset Disposal Policy (LPADP) following a recommendation to approve it from the policy, finance and resources committee (PFRC) on July 3.

PFRC also agreed the LPADP should be subject to further amendment by council officers and to communicate associated risks to full council.

Councillors voted to develop an LPADP in January, a policy that aims to address the Island’s social housing shortage.

A full council report says:

“Council sites offer an excellent opportunity for economic recovery and sustainable economic growth for the towns and villages across the island.

“It is for this reason that the council’s LPADP requires potentially surplus council land and buildings to be identified as swiftly as possible with the social rent housing suitability/viability assessment being undertaken to determine whether social rent housing (which includes relocatable homes) on a site might be delivered for or on behalf of the council (providing much-needed social housing for those in need will help reduce poverty), or for surplus assets to be marketed or disposed of as quickly as possible.

“Bringing forward more market, social and affordable housing is much needed by the young people of the Isle of Wight and future generations, for homes to give a much-needed sense of security which will in turn enable people to then focus on education and training.”

The report also notes several risks associated with an LPADP relating to market demand, market fluctuations, the potential for legal challenge and land banking.

It says:

“When a property asset is declared surplus to council requirements, there is no certainty that it will be sold, or a good price will be achieved, as both are subject to market conditions at the point of disposal.

“The value of land or property assets can fluctuate based on market conditions hence a need to be able to enter into contract at the earliest opportunity to secure the asset at the agreed price (the greater the level of governance, the greater the potential for market fluctuations to have an adverse impact).

“(There could be a) potential challenge from stakeholders or the public – especially if the disposal process is perceived as unfair – hence the need to be as transparent as possible.

“If land or property assets are being disposed of the council will need to encourage the purchaser to deliver the scheme for which the asset/land is being disposed of as promptly as possible and not to bank the land.”

Full council will meet at County Hall tomorrow at 6pm.