Agenda item

Report from the Strategic Director of Adult Care, Housing and Public Health.

Recommendations:

1.    That Cabinet agrees to purchase the homes identified in Exempt Appendix 1, subject to the budget parameters as set out in the Council’s approved Capital Programme.

2. That authority to negotiate and complete the legal documentation to give effect to the Cabinet’s decision be delegated to the Council’s Legal Services.

Consideration was given to the report which sought approval for the Council to purchase 66 new homes, of which 48 would be for Council rent and 18 for Council shared ownership. The acquisitions would be funded by the Housing Revenue Account and had been modelled within the HRA Business Plan to confirm affordability.

As set out in previous annual housing development reports, strategic acquisitions typically offered an expedient and value for money route to adding new homes to the Council’s housing stock. They also helped to ensure local affordable housing needs could be met in areas where the Council had limited existing stock, and or limited land opportunities to directly build new homes.

Exempt Appendix 1 provided the details of the proposed acquisitions, including when the homes were expected to be added to the Council’s stock. Some acquisitions would be handed over in multiple phases with the final homes from this list due in 2027/28.

The overall housing development programme would be described in the next annual housing development report. The current report was being presented earlier to ensure time-limited acquisition opportunities were not missed. It was not possible to guarantee that all the homes identified would be purchased, but Cabinet approval was sought to allow officers to undertake the necessary work towards achieving this aim.

If all of the identified acquisitions were secured, the Council would obtain the following Council homes for rent: 14 houses with 2 bedrooms; 12 houses with 3 bedrooms; 6 houses with 4 bedrooms; 15 bungalows with 2 bedrooms and 1 bungalow with 3 bedrooms, totalling 48 homes. The Council will also obtain 18 homes to offer as council shared ownership: 10 houses with 2 bedrooms and 8 houses with 3 bedrooms totalling 18 homes.

Resolved:-

1.    That Cabinet agrees to purchase the homes identified in Exempt Appendix 1, subject to the budget parameters as set out in the Council’s approved Capital Programme.

2.    That authority to negotiate and complete the legal documentation to give effect to the Cabinet’s decision be delegated to the Council’s Legal Services.