Issue - meetings

Report of the Cabinet Member for Housing and Sustainability, seeking agreement to use Right to Buy receipts to provide new affordable housing through the addition of a scheme to the Housing Revenue Account Capital Programme and the approval of expenditure, attached.

DECISION MADE: (Ref: CAB 13/14 11989 )

On consideration of the report of the Cabinet Member for Housing and Sustainability and having received representations from a Member of the Council, Cabinet agreed the following:

(i)  To add, in accordance with Financial Procedure Rules, a sum of £1,628,000 to the Housing and Sustainability Portfolio General Fund Capital Programme for a Registered Provider Grants scheme to be funded from Right to Buy receipts.

(ii)  To approve, in accordance with Financial Procedure Rules, capital expenditure of £1,628,000, phased £800,000 in 2014/15 and £828,000 in 2015/16, to award grants to Registered Providers to help fund new affordable housing in the City.

(iii)  To delegate authority to the Director of Place, following consultation with the Chief Financial Officer, the Head of Legal and Democratic Services, the Senior Head of Property and Procurement and the Cabinet Member for Housing and Sustainability to:

(a)  finalise the bidding criteria for the grant funding;

(b)  decide successful bidder(s) for the grant funding; and

(c)  enter into a grant agreement with the successful Registered Provider(s)