Continued Use of Retained Right to Buy Receipts
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To continue delegated authorities for the
Council to grant retained Right to Buy receipts to external
providers to increase supply of affordable homes.
i) Cabinet agreed the continuing retention of Right to Buy receipts (subject to government legislation), as part of the Brent Retention Agreement (2012) with the Secretary of State for Ministry of Housing Communities and Local Government until 31 March 2024.
ii) Cabinet agreed to continue to acquire existing properties until 31 March 2024 subject to financial viability including the flexibility to part-fund the cost of advance purchases within the South Kilburn regeneration area through retained Right to Buy receipts.
iii) Cabinet agreed to continue to grant retained Right to Buy receipts to external partners for the provision of affordable homes for rent in line with the agreed procedure and delegate authority to the Strategic Director for Community Wellbeing in consultation with the Director of Finance and Operational Director for Housing to approve the criteria for grant funding, to approve criteria for evaluation of bids and to approve the allocation of such grants on acceptable terms.
iv) Cabinet agreed to continue to contribute retained RTB receipts to support residential development of council-owned sites and for a commensurate proportion of the homes to be provided as affordable rented accommodation, subject to financial viability and to delegate authority to the Strategic Director for Community Wellbeing in consultation with the Director of Legal, HR, Audit and Investigations, the Director of Finance and the Operational Director, Housing to approve the contribution of such receipts.
Reason Key: Affects more than 2 wards;
Wards Affected: (All Wards);
Contact: Email: Emily-Rae.Baines@brent.gov.uk Tel: 020 8937 1131.
Report author: Emily-Rae Baines
Publication date: 15/10/2019
Date of decision: 14/10/2019
Decided at meeting: 14/10/2019 - Cabinet
Effective from: 22/10/2019