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: