URL: https://barnet.moderngov.co.uk/ieDecisionDetails.aspx?ID=9786

Decision Maker: Executive Director Growth

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Purpose: 1.     To agree the terms, and authorise the signing, of the £70 million Loan Facility Agreement, and to permit the commencement of drawdown of that loan facility by TBG Open Door Limited.   2.     To agree the terms, and authorise the signing, of the £33.6 million Grant Agreement, and to permit TBG Open Door Limited to begin to request allocated RTB capital receipts upon completion of relevant acquisitions, in addition to the existing permitted draw down of LAHF grant funding.   3.     To note that £13.740 million of Local Affordable Housing Fund (LAHF) Round 3 grant funding has been transferred to TBG Open Door Limited to date, towards the required 51 property acquisitions that are due to complete in early 2026.   4.     Subject to a decision of Cabinet to reallocate £2.090 million LAHF Round 1 grant funding to the ODH 300 Acquisitions Programme, and the continued commitment to deliver 300 new affordable homes through this programme; that it is accepted for ODH to replace £2.040 million of GLA grant funding for Affordable Rent units, with reallocated grant funding from the LAHF Round 1 programme.   5.     To authorise the signing of a Deed of Variation increasing the LBB Grant Agreement to ODH in relation to the re-allocation of £2.090 million LAHF Round 1 grant funding from the Colindale Gardens acquisitions scheme to the ODH 300 Acquisitions Scheme, as set out in Recommendation 4, on receiving Cabinet approval.

Content: 1.     To agree the terms, and authorise the signing, of the £70 million Loan Facility Agreement, and to permit the commencement of drawdown of that loan facility by TBG Open Door Limited.   2.     To agree the terms, and authorise the signing, of the £33.6 million Grant Agreement, and to permit TBG Open Door Limited to begin to request allocated RTB capital receipts upon completion of relevant acquisitions, in addition to the existing permitted draw down of LAHF grant funding.   3.     To note that £13.740 million of Local Affordable Housing Fund (LAHF) Round 3 grant funding has been transferred to TBG Open Door Limited to date, towards the required 51 property acquisitions that are due to complete in early 2026.   4.     Subject to a decision of Cabinet to reallocate £2.090 million LAHF Round 1 grant funding to the ODH 300 Acquisitions Programme, and the continued commitment to deliver 300 new affordable homes through this programme; that it is accepted for ODH to replace £2.040 million of GLA grant funding for Affordable Rent units, with reallocated grant funding from the LAHF Round 1 programme.   5.     To authorise the signing of a Deed of Variation increasing the LBB Grant Agreement to ODH in relation to the re-allocation of £2.090 million LAHF Round 1 grant funding from the Colindale Gardens acquisitions scheme to the ODH 300 Acquisitions Scheme, as set out in Recommendation 4, on receiving Cabinet approval.

Date of Decision: January 15, 2026