Cabinet, on 17 April 2024 (‘Use of Retained Right to Buy Receipts to increase the provision of more affordable housing’) resolved to:

Delegate authority to the Executive Director (Communities and People) in consultation with the Cabinet Member for Housing; the Head of Financial Services; and the Head of Law and Governance to agree sites and enter into agreements and contracts relating to the spend of Retained Right to Buy Receipts for the provision of additional affordable housing into the Housing Revenue Account within this project approval.

To purchase a two-bedroomed first floor flat at 117 Sorrell Road, Oxford for the sum of £170,000 from the open market for the purpose of adding to the Council’s HRA stock in order to let as an affordable housing property.

The decision allows purchase of the unit into the HRA as social rent to provide an affordable housing opportunity.  It also enables the use of remaining Retained Right To Buy Receipts to provide additional affordable housing within the financial year 2024-25.

To not make 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 Emma Jackman, Head of Law and Governance; Nigel Kennedy, Head of Financial Services; and Councillor Linda Smith, Cabinet Member for Housing and Communities.