Purchase of 10 Pennycress Road, Oxford
Decision Maker: Executive Director (Communities and People)
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Cabinet, on 19 April 2023, resolved to:
1. Approve the Council becoming part of the Local Authority Housing Fund in order to deliver 6 new affordable homes;
2. Recommend to Council the allocation of a £2,330,320 capital budget from the Housing Revenue Account for the Council’s investment to purchase the properties as part of Local Authority Housing Fund; and
3. Delegate authority to the Executive Director (Communities & People) in consultation with the Cabinet Member for Housing; the Head of Financial Services/Section 151 Officer; and the Head of Law and Governance/Monitoring Officer, to enter into agreements and contracts to facilitate the purchase by the Council of housing (to be held in the HRA) within the identified budget and within the project approval.
Purchase of a four-bedroom maisonette at 10 Pennycross Road for the sum of £400,000 to let as an affordable housing property through the Local Authority Housing Fund.
Reasons for the decision:
Cabinet, on 19 April 2023, resolved to approve the Council becoming part of the Local Authority Housing Fund, a national fund to support local authorities in providing accommodation to Ukranian and Afghan refugees settled in the UK under various government schemes.
The decision enables the purchase of the unit into the HRA as social rent to provide an Affordable Housing opportunity, in accordance with the conditions of the Fund.
Alternative options considered:
Not to purchase the property. This option was rejected as it would not enable the affordable housing to be delivered or the conditions of the Fund to be met.
Signed off by senior officers:
Decision taken by Stephen Gabriel, Executive Director (Communities and People) in consultation with Nigel Kennedy, Head of Financial Services; Rhian Davies, Interim Head of Law and Governance; and Councillor Linda Smith, Cabinet Member for Housing.
Publication date: 19/05/2023
Date of decision: 19/05/2023