Decision details

To seek approval to add funds to the Capital Budget in the sum of £4.9m for the delivery of these 20 affordable homes.

To approve:

i)          the addition of £4.9m to the 2024/25 HRA Capital Programme financed from £1.4m Homes England Grant, £0.5m from Allowable Debt, and £3m from prudential Borrowing to deliver 20 affordable housing units across the city.

To enable LCC to secure £1.4m of grant funding towards the acquisition of 20 new council homes; and to enable the total costs related to these acquisitions to be approved expenditure within the Housing Capital Programme.

Homes England Affordable Housing Programme 2021/2026 invites Registered Providers including Local Authorities to bid for grant monies to assist with delivering new affordable housing.

Housing have bid for and successfully secured grant funding for 13 of the 20 new affordable housing units with 7 units to be confirmed (4 of which have been identified).