Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: November 24, 2025

Purpose: This report seeks to update Members on actions already being taken and obtain approval to pursue a series of measures that will enable the Council to contribute directly to addressing the housing crisis by enabling it to become a self-deliverer of housing and in turn become a long-term stock holding authority.

Content: RESOLVED:   Cabinet is asked to:   A. Note some of the measures being taken to reduce the cost pressure to the Council of providing Temporary Accommodation as set out in this Report. B. Note the progress of the investment made via Resonance in purchasing property to enable the Council to discharge it homeless duty. C. Approve the acquisition of property for use as Temporary Accommodation both within and outside the Borough as part of its response to the ongoing demand for housing, subject to: • the Executive Director of Housing and Sustainable Development securing grant funding for the acquisition(s) through bids submitted pursuant to Recommendation D below; • the full Council making provision for the acquisition(s) in the Council’s budget of c.£13m, medium term financial strategy and/or capital investment programme (as appropriate); • the properties targeted for acquisition being fully in accordance with the terms of any grant funding so secured and/or any Council funding provision so made; • the properties satisfying any portfolio requirements including in relation to property size, type, tenure, and/or purpose(s) contained in any grant funding agreement(s) and/or Council funding provision; • legal and property due diligence having been completed satisfactorily; and • the Executive Director of Housing & Sustainable Development in conjunction with the Executive Director of Finance & Digital and the Monitoring Officer having determined that the Council’s best value duty has been discharged. D. Delegate to the Executive Director of Housing & Sustainable Development, in conjunction with the Executive Director of Finance & Digital and the Monitoring Officer in accordance with the Council’s existing budget and policy framework the acquisition of affordable housing and temporary accommodation subject to the Acquisitions Board and individual delegated authority reports. E. Delegate to the Executive Director of Housing & Sustainable Development authority to submit bids to the Greater London Authority (GLA), Homes England and the Ministry of Housing Communities and Local Government (MHCLG) for funding to support the acquisition of properties for use as Temporary Accommodation and to enter into any necessary agreements to draw down such funding. F. Note that contracts will be let and work will commence on the development of 75 homes at Farm Road, Raleigh Gardens and Elm Nursery Car Park. G. Note the decision not to proceed with the development at Canons Place at this time, due to additional land becoming available, allowing greater optimisation of the scheme. H. Determine that the Council should become a stock holding authority. I. Approve a budget envelope £500k to be funded on a one-off basis from reserves to allow business planning and procedural processes to take place in preparation for opening its Housing Revenue Account (HRA) pursuant to becoming an HRA stock holding authority. J. Note the work being undertaken to explore opportunities for housing development on Council land (section 5 of this Report) and to develop a Housing Business Plan (section 6 of this Report). K. Approve the preparation of a Housing Delivery Business Plan and authorise officers to bring this forward for Member approval. L. Recognise the requirements relating to a Housing Revenue Account (HRA) and approve the taking of necessary steps with a view to re-establishing the HRA with effect from the start of the 2027/28 financial year, subject to subsequent approval by Members. M. Approve the preparation of an HRA budget and HRA capital programme in the context of the long-term business plan and note officers will bring this forward for Member approval. N. Delegate to the Executive Director of Housing and Sustainable Development to submit bids to the Greater London Authority (GLA), Homes England and the Ministry of Housing Communities and Local Government (MHCLG) for grant subsidy to support the development and / or purchase of homes for affordable housing provision.