Decision

The acquisition of homes using LAHF Round 4 funding meets the Waverley Corporate Strategy 2024 – 2028 as it will bring forward ‘decent and affordable homes’ that will be used for temporary accommodation for homeless families or for families on the Afghan Resettlement Programme. Healthy Homes – Waverley Borough Council Housing Strategy 2025 – 2028 sets out the Council’s commitment to deliver homes to buy or rent for households from all income levels. The strategy has been supported by evidence studies including the Waverley Affordability Study 2021. The use of the funding supports the delivery of additional homes for those in housing need whilst reducing the financial impact on the Housing Review Account and level of borrowing required. A viability assessment has been completed and is attached as Exempt Appendix 1, based on assumptions provided by an independent appraisal review that is also attached as Exempt Appendix 2.

Reasons for the decision

The purchase is the first one of two properties that we are to acquire within this financial year based on the signed agreement of the memorandum of understanding between WBC and the MHCLG. A further four properties are to be acquired under the LAHF 4 in year three of the four years programme.
The acquisition of homes using LAHF Round 4 funding meets the Waverley Corporate Strategy 2024 – 2028 as it will bring forward ‘decent and affordable homes’ that will be used for temporary accommodation for homeless families or for families on the Afghan Resettlement Programme. There are Council owned properties situated in the area which are managed and maintained.
The use of the funding supports the delivery of additional homes for those in housing need whilst reducing the financial impact on the Housing Review Account and level of borrowing required.

Alternative options considered

Purchasing an alternative property was an option but rejected as this property meets the needs set out in the MOU. The option is to buy.