Purpose

This report seeks to update Members on actions
already being taken and obtain approval to pursue a series of
measures that will enable the Council to contribute directly to
addressing the housing crisis by enabling it to become a
self-deliverer of housing and in turn become a long-term stock
holding authority.

Decision

RESOLVED:
 
Cabinet is asked to:
 
A. Note some of the measures
being taken to reduce the cost pressure to the Council of providing
Temporary Accommodation as set out in this Report.
B. Note the progress of the
investment made via Resonance in purchasing property to enable the
Council to discharge it homeless duty.
C. Approve the acquisition of
property for use as Temporary Accommodation both within and outside
the Borough as part of its response to the ongoing demand for
housing, subject to:
• the Executive Director
of Housing and Sustainable Development securing grant funding for
the acquisition(s) through bids submitted pursuant to
Recommendation D below;
• the full Council making
provision for the acquisition(s) in the Council’s budget of
c.£13m, medium term financial strategy and/or capital
investment programme (as appropriate);
• the properties targeted
for acquisition being fully in accordance with the terms of any
grant funding so secured and/or any Council funding provision so
made;
• the properties
satisfying any portfolio requirements including in relation to
property size, type, tenure, and/or purpose(s) contained in any
grant funding agreement(s) and/or Council funding provision;
• legal and property due
diligence having been completed satisfactorily; and
• the Executive Director
of Housing & Sustainable Development in conjunction with the
Executive Director of Finance & Digital and the Monitoring
Officer having determined that the Council’s best value duty
has been discharged.
D. Delegate to the Executive
Director of Housing & Sustainable Development, in conjunction
with the Executive Director of Finance & Digital and the
Monitoring Officer in accordance with the Council’s existing
budget and policy framework the acquisition of affordable housing
and temporary accommodation subject to the Acquisitions Board and
individual delegated authority reports.
E. Delegate to the Executive
Director of Housing & Sustainable Development authority to
submit bids to the Greater London Authority (GLA), Homes England
and the Ministry of Housing Communities and Local Government
(MHCLG) for funding to support the acquisition of properties for
use as Temporary Accommodation and to enter into any necessary
agreements to draw down such funding.
F. Note that contracts will be
let and work will commence on the development of 75 homes at Farm
Road, Raleigh Gardens and Elm Nursery Car Park.
G. Note the decision not to
proceed with the development at Canons Place at
this time, due to additional land becoming available,
allowing greater optimisation of the scheme.
H. Determine that the Council
should become a stock holding authority.
I. Approve a budget envelope
£500k to be funded on a one-off basis from reserves to allow
business planning and procedural processes to take place in
preparation for opening its Housing Revenue Account (HRA) pursuant
to becoming an HRA stock holding authority.
J. Note the work being
undertaken to explore opportunities for housing development on
Council land (section 5 of this Report) and to develop a Housing
Business Plan (section 6 of this Report).
K. Approve the preparation of a
Housing Delivery Business Plan and authorise officers to bring this
forward for Member approval.
L. Recognise the requirements
relating to a Housing Revenue Account (HRA) and approve the taking
of necessary steps with a view to re-establishing the HRA with
effect from the start of the 2027/28 financial year, subject to
subsequent approval by Members.
M. Approve the preparation of
an HRA budget and HRA capital programme in the context of the
long-term business plan and note officers will bring this forward
for Member approval.
N. Delegate to the Executive
Director of Housing and Sustainable Development to submit bids to
the Greater London Authority (GLA), Homes England and the Ministry
of Housing Communities and Local Government (MHCLG) for grant
subsidy to support the development and / or purchase of homes for
affordable housing provision.