Purpose

Approval to progress with acquisition of
additional affordable homes on the open market and allocation of a
small number of new build homes for use by refugees through the
allocation of funding from the DLUHC Local Authority Housing Fund
and relevant delegations to officers.

Content

The Executive RESOLVED to:

 

i.        approve the
principles of the Council using the Local Authority Housing Funding
Scheme, and forward financing the acquisition or allocation of
property under this scheme.

 

ii.       approve the principle of
purchasing properties on the terms set out in the report and Exempt
Annexe 1 and to delegate authority to the Executive Head of Housing
in consultation with the Co-Portfolio Holders of Housing (Delivery
and Operations) to approve the purchase of properties to deliver
this project.

 

iii.     
approve the principle of allocation of the 11 homes as set out in
‘Allocations’ (Section 10) of this report, with the
additional wording for the Allocation scheme to be approved by
Executive Head of Housing and Housing Portfolio Holder (Operations)
in line with Waverley’s Allocations Scheme for housing
applicants.

 

iv.     
delegate to the Executive Head of Housing the authority to tender
and enter into any contract to repair or bring up to standard any
property purchased under this project in accordance with the
principles set out in the Exempt Annexe 1

 

v.       grant delegated authority
to the Executive Head of Legal and Democratic Services to approve
the final form of wording of any legal agreement related to the
project.

 

vi.     
approve the reallocation of 4 two bed shared ownership homes at
Ockford Ridge, Site C to allocation as
homes for affordable rent for use within this scheme.
 
Reason
for the decision:
 
1.        
The Waverley Corporate Strategy 2020-2025 sets out
the Vision and Strategic Priorities for the Council. One of the
strategic priorities is to ‘provide good quality housing for
all income levels.’
 
2.      
Build More, Build Better, Build for Life Affordable Homes Delivery
Strategy 2022 – 2025 sets out the Council’s commitment
to build homes to buy or rent for households from all income
levels. The strategy has been supported by evidence studies
including the Waverley Housing Affordability Study 2021.
 
3.       The
Council has been allocated a total of £2,039,531 LAHF funding
to provide a maximum of 40% of the cost of each property on the
‘Main Element’ and up to a maximum of 50% of the costs
of the ‘Bridging Element’ (four bed property.) The use
of funding supports the delivery of additional homes for those in
housing need whilst reducing the financial impact on the Housing
Revenue Account and level of borrowing required.

[Overview and Scrutiny Committee –
Resources]