Decision details

Review of HRA Capital Programme relating to housing delivery, and to present a business case for the acquisition of 17 S106 Affordable Homes

RECOMMENDATIONS TO CABINET:

That Cabinet recommends to Council:

1)    To approve the business case and approve the acquisition of 17 affordable homes within Weston, for the HRA, subject to Council approval;

2)    To approve, and recommend to Council, the revised HRA capital programme as shown at Appendix B, including this scheme and the reprofiling of future years schemes, subject to Council approval;

3)    To approve and recommend to Council the reprofiling of funding for the HRA capital programme, subject to Council approval;

4)    To delegate to the Assistant Director Strategic Growth and Development, in consultation with the Deputy Chief Executive (Corporate Development) and S151, to agree the contractual matters (including the terms and conditions which may represent a minor variation to the scheme approved in the business case) such as signing the contract/transfer document and other incidental actions that may be required, and approving the associated due diligence and valuation required to purchase the properties, subject to Council approval .

RECOMMENDATIONS TO COUNCIL:

1)    To approve the business case and the acquisition of 17 affordable homes within Weston, for the HRA;

2)    To approve the revised HRA capital programme as shown at Appendix B, including this scheme and the reprofiling of future years schemes;

3)    To approve the reprofiling of funding for the HRA capital programme;

4)    To delegate to the Assistant Director Strategic Growth and Development, in consultation with the Deputy Chief Executive (Corporate Development) and S151, to agree the contractual matters (including the terms and conditions which may represent a minor variation to the scheme approved in the business case) such as signing the contract/transfer document and other incidental actions that may be required, and approving the associated due diligence and valuation required to purchase the properties.

·       To enable new affordable homes to be delivered which met identified housing need in the district;

·       To provide a return on investment as set out in the financial evaluation provided at Appendix A to the report;

·       To replace homes sold to tenants via right to buy

·       To deliver housing solutions which met local needs and aspirations to ensure that residents had access to a range of housing options in the district.

Do nothing – in this event, the authority would not proceed to purchase the properties.  As a consequence, the expected benefits set out in the Reasons for Recommendations section of the report, would not be realised.  Officers would seek to identify alternative, appropriate schemes for consideration by the Executive or Council.