Issue - meetings

New Build Acquisition Programme

Meeting: 25/10/2017 - Cabinet (Item 465)

465 New Build Acquisition Programme pdf icon PDF 258 KB


Cabinet noted that the number of people in the district living in unsuitable housing or facing homelessness is increasing and there is an urgent requirement for new affordable homes to meet this need and that the council retained a proportion of right to buy receipts for the purpose of providing new affordable homes for rent. The funding could pay for up to 30% of the cost of a new home, but required match funding by the Council from its Housing Revenue Account.


The use of Housing Revenue Account capital receipts into the council’s approved development programme would, in turn release resources that could be used to match fund the available right to buy receipts.


Members considered proposals to allocate £1.5m of Housing Revenue Account funding, together with £630k of retained right to buy receipts to fund a new acquisitions programme. The total funding of £2.13m would enable the Council to acquire 10 to 12 new homes that would then be let to people in housing need on an affordable rent.


This new programme would supplement the Council’s existing £28m approved development programme, which will have provided around 140 new homes by 2019. The new programme would also ensure that new homes could be provided expeditiously for people living in unsuitable homes or facing homelessness.


Councillor Campbell and Councillor Savage spoke under Council Procedure 20.1.


Councillor S Piper proposed, Councillor L Fairbrass seconded and Cabinet agreed the following:


1.  To the principles set out in this report for an initial acquisition programme of approximately 10-12 homes;

2.  To allocate £630k of Right to Buy 1-4-1 receipts, together with HRA match funding of £1.5m to fund the programme;

3.  To delegate authority to Head of Housing, to complete the acquisition of new homes within the programme.