Decision details

Application of Right to Buy Receipts for Additional Social Housing

Decision Maker: Cabinet (Resources) Panel

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To approve the utilisation of a capital programme budget for a new project.

Decisions:

Councillor Peter Bilson presented the report on a proposal to establish a capital scheme for the acquisition of additional social housing units, augmenting the Council’s newbuild programme, and taking the opportunity to commit available Right-to-Buy (RTB) receipts. The report also set out proposals for spend which would support wider housing outcomes in the city.

 

Resolved:

1.     That the utilisation of £2.5 million of the HRA capital programme for new build for the acquisition additional social housing using Right to Buy ‘one-for-one’ receipts be approved.

 

2.     That authority be delegated to the Cabinet Member for City Assets and Housing in consultation with the Strategic Director for Place to agree the expenditure on individual properties and purchases.

 

3.  That the following proposed priorities for the capital budget be approved:

a.          Buying back of former Right to Buy properties on the Heath Town estate, where leaseholders prefer to dispose of their properties rather than pay for the investment works required.

b.          Purchase of properties on the open market to be added to the Housing Revenue Account.

c.          Purchase of properties on the open market for decanting of Council tenants from larger properties in poor repair, where they are under-occupying and the Council has assessed their existing properties as being uneconomic to repair.

d.          Purchase of land on the open market for development of new Council homes for affordable rent.

e.          Investment in Registered Provider developments in the city, where this will provide for a lower rent for the tenants, supporting affordability outcomes.

 

4.     That first lettings of the void properties purchased under recommendation 3c above be ring-fenced for the decanting of high cost street properties.

 

5.     That an annual review of Right to Buy receipt expenditure, and the development of a bank of projects to ensure maximum use of one-for-one receipts, enabling the Council to respond quickly to opportunities to increase social housing in the city be approved.

Report author: Jane Trethewey

Publication date: 17/01/2018

Date of decision: 16/01/2018

Decided at meeting: 16/01/2018 - Cabinet (Resources) Panel

Effective from: 24/01/2018

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