Purpose

To purchase 30 new-build homes
for affordable rent, using the additional capital budget, to ensure
delivery of the homes at an affordable rent.

Decision

Cabinet agreed the following:
 
1. 
That the Council progresses with the acquisition of 30 new
affordable homes being built by developer Guildcrest, using the
accelerated housing programme capital budget, approved by Council
at its meeting on 12 October 2023;
 
2.  To
note that the Director of Corporate Services will re-assess the
viability of the schemes and subsequently approve these
acquisitions, in consultation with the Deputy Leader and Cabinet
Member for Housing, should there be a variation to the assumed
level of borrowing needed;
 
3.  The
letting of these homes in accordance with the Council’s
Allocations Policy and any subsequent local lettings plan (LLP), at
an affordable rent as set out in the Council’s Tenancy
Strategy.