Purpose

To
gain approval to lease up to 300 units for an alternative to
temporary accommodation. 
 

Decision

Decision
 
For
the reasons set out in the report and its appendices Cabinet
RESOLVED to Agree:
 

i) 
That the
Council, whether in its own right or through a Council entity or
partner, to enter into contractual arrangements for the acquisition
and letting of up to 300 properties through Chalkhill Partners Ltd
and its associated vehicles for a period of 10 years.

ii) 
To delegate
authority to the Corporate Director of Resources in consultation
with the Lead Member for Housing Management and Modernisation and
the Lead Member for Finance and Corporate Services 3 to determine
the final form of contractual arrangement including the preferred
structure and contracting party and to negotiate, finalise and
agree the detailed terms of an Agreement for Lease together with
any necessary ancillary agreements and activities to effect those
terms.

iii) 
That where
required the Properties to be sub-leased to a suitable third party
housing organisation.

iv) 
To delegate
authority to the Corporate Director of Resources in consultation
with the Lead Members for Housing Management and Modernisation and
Finance & Resources to determine the arrangements for the
Council’s subletting of the properties in line with
paragraphs 5.7- 5.14 below and to enter into all necessary legal
documentation to effect those arrangements.
Alternatives Considered
 

a) 
The Council
could choose not to proceed with this lease arrangement and
maintain the current level of expenditure, with a provisional
overspend in 2023/24 as set out in the February 2024 budget
monitoring report. This option has been rejected as it would not
reduce the current level of costs.

b) 
The Council
could look to acquire the 300 units directly with PWLB funding. The
Council already has an acquisition programme focussing within the
borough. However, this programme will be able to acquire
substantially more, in a wider area and in a quicker
timeframe.