Decision details

Housing Tenancy Conversions

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

To determine the tenure and future usage of up to one third of the housing PFI units, in accordance with the revised contract entered into with Brent Co-Efficient in April 2015.

Decision:

(i)         that it be noted that the revised Project Agreement was entered into in April 2015;

 

(ii)        that it be noted that the projected financial deficit at the end of the contract, without exercising the option to convert PFI units to alternative tenures, has increased due to the impact of external factors since the last report to Cabinet;

 

(iii)       that up to 122 units of Temporary Accommodation be converted to `Discounted Market Rent units, as set out in the report, and the Strategic Director Community Well-being, in consultation with the Chief Finance Officer and the Chief Legal Officer be delegated authority to issue to Brent Coefficient Limited a schedule setting out the units to be allocated as Discounted Market Rent units in accordance with the Project Agreement.

Reason Key: Affects more than 2 wards;

Wards Affected: Barnhill; (All Wards);

Contact: Jon Lloyd-Owen, Operational Director, Housing and Culture Email: jon.lloyd-owen@brent.gov.uk Tel: 020 8937 5199.

Report author: Jon Lloyd-Owen

Publication date: 22/01/2016

Date of decision: 20/01/2016

Decided at meeting: 20/01/2016 - Cabinet

Accompanying Documents: