Decision details

Purchase of 3 affordable homes in Moulton Chapel

Decision Maker: Portfolio Holder for Assets & Strategic Planning

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To set out details of the potential for the authority to acquire 3 S106 affordable homes on a development site in the district.

Decision:

  1. To approve the business case and approve the acquisition of 3 affordable homes within Moulton Chapel, for the HRA.
  2. To delegate to 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 documents and other incidental actions that may be required, and approving the associated due diligence and valuation required to purchase the properties, and to identify this scheme as a named scheme in the capital programme, in accordance with the approved budget.

Reasons for the decision:

  1. To enable new affordable homes to be delivered which meet identified housing need in the district.
  2. To provide a return on investment as set out in the financial evaluation provided at Appendix A.
  3. To replace homes sold to tenants via right to buy.
  4. To deliver housing solutions which meet local needs and aspirations to ensure that our residents have access to a range of housing options in the district.

Alternative options considered:

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 this report, would not be realised.  Officers would seek to identify alternative, appropriate schemes for consideration by the Executive or Council.

 

Interests and Nature of Interests Declared:

None.

Reason Key: Incurring expenditure above £75,000 threshold in respect of revenue/£180,000 in respect of capital;

Wards Affected: (All Wards);

Conflict of Interest: n/a

Dispensation Granted: n/a

Contact: Caroline Hannon, Head of Delivery Email: Caroline.Hannon@sholland.gov.uk.

Publication date: 17/02/2023

Date of decision: 17/02/2023

Effective from: 25/02/2023

Accompanying Documents: