Decision details
FUNDING REQUEST FROM THE RIVERSIDE GROUP LIMITED
Decision Maker: City Mayor (Individual Decision)
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To approve grant funding towards the purchase of 46 new Affordable Housing Dwellings for rent and the addition of £1.08m to the Housing Revenue Account Capital Programme for 2018/19.
Decision:
(1) Approve a grant payment of £1,082,744.40 of Right To Buy Receipts (RTBR) funds payable to the Riverside Group Limited, towards Riverside’s purchase of 46 new Affordable Rent homes, subject to Riverside entering into an Affordable Rent Grant Agreement with the council.
(2) Approve the addition of £1,082,744.40 to the Housing Revenue Account Capital Programme for 2018/19.
Reasons for the decision:
To enable the council to make a grant payment to the Riverside Group Limited, towards its proposed purchase of 46 new Affordable Rent Homes. The grant payment will be made from the retained Right To Buy Receipts held by the council.
Alternative options:
Not applicable.
Publication date: 24/08/2018
Date of decision: 04/09/2018
Effective from: 12/09/2018
Accompanying Documents:
PDF 95 KB