Decision details

The acquisition of a property portfolio for Affordable Housing

Decision Maker: City Mayor (Individual Decision)

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

The purchase of this large portfolio of properties will boost the Council’s efforts to deliver the manifesto commitment of 1,500 new affordable homes by March 2023.

Decision:

To purchase a substantial portfolio of properties that will increase the Housing Revenue Account (HRA) stock by 371 units of accommodation, funded by the Housing Revenue Account capital programme allocation for Affordable Housing acquisitions.

 

Please Note:  This decision has been Called-In under Rule 12 of Part 4D of the Council’s Constitution and no further legally binding action will be taken on this decision until the Call-In has been addressed.

Reasons for the decision:

To increase and refresh the number of HRA properties, lost by the Right To Buy, scheme so that we can meet the ongoing need of those wating for home on the Housing register.

Alternative options:

None.

Publication date: 22/11/2021

Date of decision: 22/11/2021

Effective from: 30/11/2021

This decision has been called in by:

Accompanying Documents: