The official version of this document can be found via the PDF button.
The below content has been automatically generated from the original PDF and some formatting may have been lost, therefore it should not be relied upon to extract citations or propose amendments.
2.14 Deputy J.A. Martin of the Minister for Treasury and Resources regarding The development of the units of accommodation at the Summerland site.
Will the Minister advise whether all the units of accommodation to be created at the Summerland site will be category A social rental? Will they be developed by a housing trust, the States of Jersey Development Company or a private developer and will he identify what budget, if any, is available for this?
Deputy E.J. Noel (Assistant Minister for Treasury and Resources - rapporteur):
It is currently proposed that all properties will be category A housing available for social rented tenants. The current plan is that the site will be developed by the Housing Department. Its proposed future form is a wholly States-owned housing company. The Housing Department's business case recognises that the new housing company requires new sources of finance beyond the traditional capital programme in order to meet its objectives and as I have already said in the Assembly today, the Treasury is presently exploring a range of financing options. These include the use of infrastructure investment or external borrowing against the rental income stream. If, for whatever reason, the housing company did not develop this site, then the site could be developed by another social housing provider as category A housing and financed through equity, commercial borrowing or a combination of both.
- Deputy J.A. Martin:
A supplementary, and I think the Assistant Minister has answered. Can he tell me what has changed from 1st March in an email from Property Holdings Chief Executive which states: "At present, the site and source of budget has yet to be determined and alternatively the site could be sold to the market." Now, what has changed in 19 days?
Deputy E.J. Noel:
Nothing has changed. The email that the Deputy is quoting from, the market actually refers to other social housing providers.
- Deputy J.A. Martin:
I will ask in the above it does mention "other housing". The market he is talking about is the open market in that question. It is not we already covered that, and all States Members received this. I still think somebody is stretching the truth who is going to develop in 2020 the Summerland site and where the money is coming from with both fingers crossed and hoping by then somebody would have sorted it out and it will not be this Minister for Treasury and Resources.
The Deputy Bailiff :
I do not understand that to be a question, Deputy . Deputy E.J. Noel:
If I may comment on that non-question. I am happy to give the Deputy assurances and the rest of the Assembly that the Summerland and the ambulance site will only be developed for housing that is for social rented. That is an undertaking I am willing to give to the Deputy .