Decision Maker: Cabinet

Outcome: For Determination

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: January 28, 2025

Purpose: To consider the report of the Cabinet Member for Housing Operations seeking approval to invest accumulated Right to Buy monies.

Content: (i)  To agree to the principle of the investment of Right to Buy monies as set out in this report and makes a recommendation to Council that it approves the expenditure of up to £13.085m of the Right to Buy receipts collected between 2019/20 and 2023/24 on an extension to the pilot programme of property investment under the temporary flexibilities granted by Government during the 2024/25 and 2025/26 financial years. (ii)  To make a recommendation to Council that it grants delegated powers to the Director of Housing after consultation with and the Executive Director of Enabling Services, Executive Director of Growth and Prosperity, the Director of Legal and Governance and the Cabinet Member for Housing, to agree and approve the detail of the additional property investment in line with the details set out in this paper.