Decision

That, following satisfactory completion of legal due
diligence and having secured an appropriate allocation of grant
funding from Homes England, the site as set out in
Exempt Appendix 1 be acquired; and funded from a combination of
homes England grant, other subsidy and up to £354,510 which
forms part of the £20m prudential borrowing agreed by Council
on 16 May 2025.

Reasons for the decision

Completion of the
legal due diligence process has concluded that the Council’s
acquisition of the property would represent good and marketable
Title and as such, the scheme represents a good investment
opportunity to reduce our revenue expenditure on Temporary
Accommodation. 

Alternative options considered

The project could be put on
hold or cancelled and the grant funding allocated could be returned
to central government.