Decision details
Purchase of a 1-bedroom mid-floor flat at 5 Yew Close, Greater Leys, Oxford, OX4 7UX
Decision Maker: Executive Director (Communities and People)
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
To purchase the unit into the Housing Revenue Account in order to provide more affordable housing within the HRA as social rent from the open market.
Oxford City Council is not the freeholder.
Oxford City Council purchased 6 Yew Close in March 2022.
Decision:
Purchase of a 1-bedroom mid-floor flat at 5 Yew Close, Greater Leys, Oxford.
Reasons for the decision:
The purchase enables the use of remaining Retained Right to Buy Receipts to purchase the property into the Housing Revenue Account, making best use of right to buy receipts and enabling the Council to provide additional affordable housing.
Alternative options considered:
To not proceed with the acquisition. This option was rejected as the purchase represents good value to the Council and contributes to the target of providing more affordable housing.
Signed off by senior officers:
Decision taken by Stephen Gabriel, Executive Director (Communities and People), in consultation with Nigel Kennedy, Head of Financial Services / S151 Officer; Susan Sale, Head of Law and Governance; and Councillor Linda Smith, Cabinet Member for Housing.
Publication date: 20/12/2022
Date of decision: 20/12/2022
Accompanying Documents:
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