Cabinet, on 13 September 2023, resolved to:

1. Approve the Council becoming part of the Local Authority Housing Fund Round 2 in order to deliver 4 new affordable homes;

2. Recommend to Council the allocation of £1,863,100 capital budget from the Housing Revenue Account for the Council’s investment to purchase the properties as part of Local Authority Housing Fund Round 2, with £1,069,860 being funded from HRA borrowing and the rest covered by grant of £793,240; and

3. Delegate authority to the Executive Director (Communities and 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 this project approval.

Council, on 2 October 2023, resolved to approve the allocation of £1,863,100 capital budget from the Housing Revenue Account for the Council’s investment to purchase the properties as part of Local Authority Housing Fund Round 2, with £1,069,860 being funded from HRA borrowing and the rest covered by grant of £793,240.

Purchase of four two-bedroom flats at £250,000 per unit to provide as affordable housing properties through the Local Authority Housing Fund Round 2 to deliver a total of 4 new affordable homes for the programme.

To purchase the units into the HRA as social rent to provide affordable housing opportunities.  The Council has approval to purchase four properties to offer as affordable social housing for the Local Housing Authority Fund Round 2 programme.

To not complete the purchase.  This option was rejected as it would not allow the affordable housing to be delivered.

Decision taken by Peter Matthew, Interim Executive Director (Communities and People) in consultation with Nigel Kennedy, Head of Financial Services; Emma Jackman, Head of Law and Governance and Councillor Linda Smith, Cabinet Member for Housing.