To consider a way forward to resolve the outstanding position in relation to the Community Grant on Queen’s Road, Tewkesbury.

1.   That the charge over Title Number GR342856, as referred to in the report, be released provided Severn Vale Housing Society Ltd. first enter into a formal covenant with Tewkesbury Borough Council to pay to the Council the sum of £73,646.69 in equal annual instalments over a period of seven years from the date of the Deed.

2.   That authority be delegated to the Head of Finance and Asset Management to settle the further terms of the Deed and to the Borough Solicitor to prepare such documents as she considers appropriate to reflect the terms agreed.

3.   That the moneys received from Severn Vale Housing Society Ltd to Tewkesbury Borough Council under the terms of the Deed be allocated for the benefit of Prior’s Park Neighbourhood Project Ltd. or (should that company cease to exist) allocated for community support within the Prior’s Park neighbourhood.

48.1              The report of the Deputy Chief Executive, circulated at Pages No. 174-177, provided details about a proposal that had been received from Severn Vale Housing Society to resolve the outstanding position in respect of a community grant previously awarded for conversion work at 101-105 Queens Road, Tewkesbury. Attention was drawn to a paper circulated around the table which detailed amended recommendations in respect of this issue. Members were asked to release the charge over Title Number GR342856 referred to in the report provided that Severn Vale Housing Society Ltd. first entered into a formal covenant with Tewkesbury Borough Council to pay to the Council the sum of £73,646.69 in equal annual instalments over a period of seven years from the date of the Deed; to delegate authority to the Head of Finance and Asset Management to settle the further terms of the Deed and to the Borough Solicitor to prepare such documents as she considered appropriate to reflect the terms agreed; and that the monies received from Severn Vale Housing Society Ltd. under the terms of the Deed be allocated for the benefit of Prior’s Park Neighbourhood Project Ltd. or (should that company cease to exist) allocated for community support within the Prior’s Park neighbourhood.

48.2              The Deputy Chief Executive indicated that, at its meeting in June 2016, the Committee had determined that Severn Vale Housing Society should be asked to repay the totality of the community grant previously awarded to the Prior’s Park Neighbourhood Project in 2010 for conversion work at 101-105 Queens Road, which was placed as a charge on the property. During discussions with Severn Vale following that meeting a proposal had been received which it hoped would resolve the outstanding position. The proposal saw Severn Vale Housing Society accept the liability for the outstanding grant amount of £73,646.69 which was owed to the Borough Council and it also offered a commitment to support the community work carried out by the Neighbourhood Project in the Prior’s Park area. With this in mind, Severn Vale had offered to repay the outstanding amount in the form of a £10,520 annual grant to Prior’s Park Neighbourhood Project for seven years to aid the community development capacity of the Project. The first annual grant would be made within 2016/17 financial year as soon as the charge was lifted from the property and continued each year subsequently. It was proposed that that ‘community grant’ would be paid direct to the Borough Council for onward transmission to the community project and, within that time should the Neighbourhood Project cease to exist, the monies would remain ring-fenced for community support within the Prior’s Park neighbourhood with any remaining balance being paid directly to the Borough Council to replenish the community grants pot for general support throughout the Borough. Severn Vale Housing Society would also offer an officer to sit on the Neighbourhood Project’s Board to further support the community organisation in its sustainability and future planning.

48.3              The Deputy Chief Executive advised that she had consulted with the local Ward Members on the proposal and they were very supportive of it. There was vulnerability in the neighbourhood and the work the Project did to enhance the area and achieve better outcomes for its residents was invaluable.

48.4              Having considered the information provided, and proposal made from Severn Vale Housing Society, it was