Issue - meetings

Report of the Assistant Director of Place (Economic Growth and Housing)

Further to Minutes Nod. 80 and 83 of the meeting of the Cabinet of 2 November 2023, the Council considered the report of theAssistant Director of Place (Economic Growth and Housing) indicating that a Council Housing Business Plan was approved by the Cabinet in April 2023 which would see the delivery of around 50 new homes over the next 5 years. The report recommended the funding into the capital programme for the acquisition of 18 homes (apartments) for social rent to be acquired from Sandway Homes at Buckley Hill Lane, Netherton.

RESOLVED:That

(1)      a Supplementary Capital Estimate of £2,222,783 for the acquisition of new council housing at Buckley Hill Lane, Netherton be approved, to be funded through affordable housing capital receipts, historic right to buy sharing agreement receipts and Homes England grant funding, as recommended by the Cabinet at its meeting on 2 November 2023; and

(2)      the net rental income from the scheme, including that received during the initial payback period, be approved.