Purpose

To agree a Memorandum of Understanding with
MHCLG to provide 5 units of accommodation in return for £907k
of funding as part of the Local Authority Housing Fund (LAHF) Round
3 funding agreement.

Decision

(1) 
To accept the MHCLG
offer of £944k grant to expand the scheme by a further 5
properties in accordance with the principles articulated and agreed
in the original LAHF Round 1 decision (E3480) and supported by the
additional high-level business case attached in Appendix 1 of the
report.
 
(2) 
To delegate all
operational decisions, including agreement of Memorandum of
Understanding with MHCLG, individual property business cases, to
the Director of Capital & Housing and Aequus loan funding decisions to the s151
Officer.
 
(3) 
To increase the
capital programme for the Local
Authority Housing fund, having regard to the existing full approval
of £3.567m, as follows:
 
(i) 
Full approval of
additional capital budget of £1.175m which reflects estimates
for purchases of five properties on the open market funded by
£938k government grant from MHCLG, £75k Afghan
Integration Tariff, £139k Homelessness Prevention Grant and
£23k from developer S106 contributions.
 
(ii) 
Noting estimated loans
of £637k to Aequus will be
reflected in the existing Approval for Property Company Investment
- Council (Loan): Developments.