Decision details
Use of Retained Right to Buy Receipts to increase the provision of more affordable housing
Decision Maker: Chief Executive
Decision status: For Determination
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
Cabinet, at its meeting on 10 November 2021, delegated authorityto the Executive Director for Communities and People, in consultation with the Cabinet Member for Affordable Housing, Housing Security and Housing the Homeless; the Head of Financial Services; and the Head of Law and Governance, to enter into agreement for the award of grant, contractual arrangement and/or spend, for the provision of additional affordable housing, using Retained Right to Buy Receipts, within this project approval.
At its meeting on 10 November 2021 Cabinet also delegated authority to the Chief Executive, in consultation with the Cabinet Member for Finance and Asset Management; the Cabinet Member for Affordable Housing, Housing Security and Housing the Homeless; the Head of Financial Services; and the Head of Law and Governance, to approve any property purchase or development delivery over £500,000 for affordable housing, within this project approval.
Decision:
To approve the purchase of Roken House, 60 Lake Street, Oxford, OX1 4RR.
Reasons for the decision:
By the use of remaining Right to Buy Receipts the purchase will enable eight self-contained flats to be kept within the affordable housing sector, providing social housing and supported housing (including use as homelessness temporary accommodation).
The refurbishment will enable the addition of more units and an improved design for single households.
Alternative options considered:
To not complete the acquisition. This was rejected as the purchase is considered to represent good value for the Council and will provide homeless accommodation or much needed affordable housing within Oxford.
Signed off by senior officers:
Decision taken by Caroline Green, Chief Executive in consultation with Councillor Ed Turner, Deputy Leader (Statutory) – Finance and Asset Management; Councillor Diko Walcott, Cabinet Member for Affordable Housing, Housing Security and Housing the Homeless; Nigel Kennedy, Head of Financial Services and Susan Sale, Head of Law and Governance.
Publication date: 21/03/2022
Date of decision: 21/03/2022
Effective from: 24/03/2022
Accompanying Documents: