Decision details

Enabling the delivery of homes to meet the needs of local people

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

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.

Decision:

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.

Reasons for the decision:

To unlock and accelerate delivery for much needed homes in the district.

Alternative options considered:

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

Accompanying Documents: