ODFAA has been negotiating the terms of a new 21 year Lease and Site Rules with Oxford City Council (OCC) since autumn 2019. The impact of COVID on Council resources has meant this process has taken a lot longer than anyone might have imagined.
As of January 2024 agreement in principle has been reached on the outstanding elements: –
- The term of the Lease will be 21 years, commencing September 2021, with rent reviews every 7 years (i.e. first review in 2028).
- Any rent increases will be based on the Consumer Price Index.
- A proportion of total rents payable to OCC will be set aside each year to form a fund to help pay for future repairs/replacement of site fencing and gates.
- A sliding scale, from zero to 50%, will apply to Associations’ contributions to repairs/replacements costs, based on membership numbers.
- A change to Cooperative or company status is recommended but will not be mandatory.
A final draft Lease from OCC is pending.
The agreed Lease may be subject to minor adjustments appropriate to individual Association sites/circumstances.