The future strategic direction for the Council's group of housing companies
Decision Maker: Council
Decision status: For Determination
Is Key decision?: Yes
Is subject to call in?: No
Delegated authority to the Assistant Chief Executive in consultation with the Head of Finance and Head of Law and Governance to approve the sale of sites as set out in the OCHL business plan to OCHL providing that such sales comply with the mechanism set out in paragraph 31 of this report and s123 of the Local Government Act 1972, and are made on the basis that following development all affordable housing units at the sites would be purchased back by the Council through the Housing Revenue Account.
Council considered a report of the Head of Housing submitted to Cabinet on 29 May 2019 proposing changes to the arrangements between the Council’s group of Housing companies and the Council’s Housing Revenue Account for the delivery of affordable housing in response to recent government policy changes and recommending a review of future Oxford City Housing Limited (OCHL) development with a view to expanding activity and accelerating affordable housing delivery.
Councillor Rowley, the Cabinet Member for Affordable Housing presented the report and moved the recommendations, which were agreed on being seconded and put to the vote.
Council resolved to
1. increase the HRA capital programme by £45.303m so that adequate additional budgetary provision is made available for the acquisitions to take place as set out in Appendix 1 of the report;
2. approve a revised HRA budget and Business Plan that incorporates the new acquired dwellings that impacts on rental income, maintenance spend, interest payments, debt redemption activity and other matters as set out in Appendix 2 of the report; and
3. approve the re-phasing of the loans from the General Fund Capital Programme in relation to the borrowing activity of OCHL over the MTFP period 2019/20 to 2022/23 as set out in Appendix 1 of the report.
Report author: Alan Wylde
Publication date: 09/08/2019
Date of decision: 22/07/2019
Decided at meeting: 22/07/2019 - Council