Content

12.1

The report outlines the additional allocation
of funding from the Local Authority Housing Fund (LAHF) and the
proposed use of such funding to purchase homes.
 
The report also seeks approval to receive and
spend the additional funding and progress to acquiring new housing;
and for the use of capital to supplement the grant with repayments
of the loan being met from rental income.

 

 

12.2

RESOLVED UNANIMOUSLY: That
Strategy and Resources Policy Committee:-
 
(a) approves the Council acting as Accountable
Body for the Department for Levelling Up, Housing and Communities
(DLUHC) additional grant offer of £1,230,433;
 
(b) approves the strategy of spending the
grant as set out in the report, including the acquisition of up to
16 additional properties; and
 
(c) approves the additional capital funding of
£1,036,768, as set out in the report.

 

 

12.3

Reasons for
Decision

 

 

12.3.1

The authority completed a validation form with
the proposed minimum number of properties on 25th January 2023 and
submitted a signed Memorandum of Understanding (MoU) to DLUHC on
15th March 2023. The authority is required to submit the signed
addendum to the MoU to DLUHC by 28th April 2023 in order to secure the additional funding of
£1,230,433.

 

 

12.3.2

To secure the full funding the LAHF Team
confirmed that ideally all purchases should be complete by 30th
November 2023. If purchases are within the legal process at that
point but not complete the funding for those properties will still
be provided. Acquisitions currently being purchased can be included
in this programme. To secure all funding, it is recommended to
allocate this funding to current purchases within the Stock
Increase Programme. This fund will then allow the Stock Increase
Programme to deliver further additional properties.

 

 

12.4

Alternatives
Considered and Rejected

 

 

12.4.1

No alternative options were considered.