Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
The report considered the principle of the Council establishing a housing company to enable the delivery of new homes, that would otherwise not be delivered, with the ability to directly acquire land and construct homes.
Cabinet agree to:
1. Support the purposes for setting up a housing company to:
a. Enable the delivery of new homes, that would otherwise not be delivered, with the ability to directly acquire land and construct homes;
b. Acquire homes with the aim of improving conditions, management standards and affordability for the benefit of residents;
c. Supplement existing housing programmes and funding within the council’s HRA;
d. Offer a wider range of housing tenures and costs, in addition to existing provision;
e. Create a financially viable and sustainable vehicle for the acquisition, development and management of housing;
f. Such other purposes which are ancillary to the above purposes.
2. Allocate an initial set-up budget for the housing company of £50,000, to be funded from the Business Rates Equalisation Reserve, and delegate authority to the Deputy Chief Executive to approve expenditure against this budget.
To unlock and accelerate delivery for much needed homes in the district.
The Council considered the current way of working and the benefits of direct engagement in the housing market. The opportunity presented by having a Housing company and the ability to increase the number of affordable homes, is considered as enhancing the current enabling offer.
Report author: Bob Porter
Publication date: 26/07/2019
Date of decision: 25/07/2019
Decided at meeting: 25/07/2019 - Cabinet
Effective from: 03/08/2019