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Issue details

Site Cluster II

In July 2017, Cabinet authorisation was given for an officer decision to determine the appropriate tenure for the 21 units approved from the Shared Ownership and Affordable Housing Programme (SOAHP). At the point of the original Site Cluster approval in July 2017, the proposed tenure mix, which was subject to change, included 12 “rent to buy” homes.

The July report had identified that the financial modelling completed to date showed that in the long term, the Council’s financial contribution to the shared ownership homes would be recovered, but the rent to buy product was considered more challenging. Rent to buy is an innovative new product, introduced to try to help different groups to get onto the property ladder and the Council was aspirational in offering this as part of the Clusters programme. However the report identified that if we were unable to mitigate against any adverse impact on the HRA and concerns remained over value for money, then the homes could alternatively be provided as additional shared ownership units or additional council rented homes.

On this basis a decision is required to agree that the 12 original ‘rent to buy’ homes will now be delivered as shared ownership – this is still an acceptable use of the SOAHP funding allocation.

Decision type: Non-Key

Decision status: Recommendations Approved

Wards affected: (All Wards);

Notice of proposed decision first published: 14/03/2019

Open/Exempt: Open;

Decision due: 5 March 2019 by Strategic Director of Adult Care, Housing and Public Health

Lead director: Strategic Director of Adult Care, Housing and Public Health

Department: Adult Care, Housing and Public Health

Date Report and Background Papers will be available: 5 March 2019