Decision Maker: Delegated Decisions

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: November 19, 2024

Purpose: To consider approving the purchase of 21 new-build homes in Fairfields, using Right to Buy receipts.

Content: 1.         That the public and press be excluded from the meeting by virtue of Paragraph 3 (Information Relating to the Financial or Business Affairs of the Authority) of Part I of Schedule 12A of the Local Government Act 1972, in order that the meeting consider the exempt Annex to the report. 2.         That the purchase of 21 new-build homes in Fairfields using Right to Buy receipts (1-4-1 receipts) and developer S106 affordable housing contributions, be agreed, increasing council housing stock and helping to ensure that retained 1-4-1 receipts are not returned to the Government with interest. 3.         That spend of £4.2m for the freehold plus up to £60k for on-costs including the use of £3.2m of right to buy receipts and approximately £1m of S106 affordable housing funds, be approved. 4.         That authority be delegated to the Director of Environment and Property, in consutation with the Assistant Director of Finance and the Head of Legal Services, to finalise arrangement for the purchase. 5.         That authority be delegated to the Director of Finance and Resources and the Director of Environment and Property, in consultation with the Cabinet member for Housing, to consider and record by officer decision future purchases of individual homes or flats up to £1m using Housing Revent Account funding and / or right to buy receipts.