Issue - meetings

Market to Affordable Housing Conversion Policy

Meeting: 03/06/2020 - Cabinet (Item 8)

8 Market to Affordable Housing Conversion Policy pdf icon PDF 176 KB

[To approve a policy for purchasing private properties and converting to affordable housing]

 

Decision:

1.      That the acquisition of market housing to convert to affordable housing to increase the housing stock as part of the Additional Social Housing Programme be approved.

2.      That the policy and criteria to identify and purchase suitable market housing units be approved.

3.      That authority be delegated to the Cabinet Member for City Assets and Housing in consultation with the Director of City Environment to agree the expenditure on individual property/land purchases.

4.      That authority be delegated to the Service Manager, Strategy and Policy and in their absence, the Housing Enabling Manager the decision to ‘decline’ a Right of First Refusal request.

5.      That the completed acquisitions of market housing which have been converted to affordable housing in 2019-2020 be noted.

Minutes:

Councillor Jacqueline Sweetman presented the report on proposals to introduce targeted interventions to support the Council’s strategic objectives and broader housing outcomes, by purchasing existing market stock in the city and converting it to affordable housing. This would also help ensure the Council maximise the use of the Right to Buy receipts (1-4-1 receipts) and receipts from Section 106 agreements to increase the supply of affordable housing.

 

Resolved:

1.    That the acquisition of market housing to convert to affordable housing to increase the housing stock as part of the Additional Social Housing Programme be approved.

2.    That the policy and criteria to identify and purchase suitable market housing units be approved.

3.    That authority be delegated to the Cabinet Member for City Assets and Housing in consultation with the Director of City Environment to agree the expenditure on individual property/land purchases.

4.    That authority be delegated to the Service Manager, Strategy and Policy and in their absence, the Housing Enabling Manager the decision to ‘decline’ a Right of First Refusal request.

5.    That the completed acquisitions of market housing which have been converted to affordable housing in 2019-2020 be noted.