Purpose

In support of the council’s

Housing, Homelessness and Rough Sleeping
Strategy, Full Council approved
plans to invest up to £2m of the Council’s capital
reserves into the provision of social rented temporary housing
units on 25 February 2025 as part of the Medium-Term Financial
Strategy –
view decision

This funding is in addition to the £2.157m the
council already committed to invest in temporary accommodation in
October 2024, which has to date been invested in 8 properties, of
which 7 are already in use.

It is estimated the additional £2m will see
approximately eight further units purchased and added to the
council’s stock of temporary, housing first and social
housing stock.

The council’s wholly owned trading
company, Lichfield
West Midlands Traded Services (LWMTS), is leading on the work to identify and
procure accommodation units. LWTMS has a specialist team dedicated
to property acquisition, maintenance, repair and management and
will be paid a management fee to oversee these works.

This report proposes the purchase of one property.
Bringing the total up to three properties.
 

Decision

The Leader:
 
Approve the freehold acquisition of 2 bed
house in Lichfield for the sale price of £250,000, with a
further £10,000 set aside for associated legal costs and
repair/maintenance works. See Appendix 1 (confidential) for
property information.
 
Noted that this purchase will see the total
number of 3 properties purchased with the £2m, this will
leave us with approx. £1,002,500 to use towards another
purchase. (Mountain Warehouse Units)
 
Noted that the council will work with Homes
England ongoing to determine whether any external funding is
available to contribute to the purchase and delivery of this
accommodation unit. Should funding be available, any underspend of
capital monies to fund this property will be maintained in the
capital budget for further purchases.