Decision details

RESOLVED:

-           noted the progress of the Right to Buy Receipts Programme Phase 1 to April 2016 and its integration with the wider market acquisitions programme, as set out in paragraph 6.11 of the report.

-           agreed to continue this Programme to acquire existing properties until 31 March 2019, 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.

-           agreed to allocate retained Right to Buy receipts as local authority grant for the provision of affordable housing by external partners and to delegate authority to the Strategic Director for Resources in consultation with the Chief Legal Officer, the Chief Finance Officer and the Operational Director, Housing and Culture in consultation with the Lead Member for Housing to approve criteria for grant funding, to approve criteria for the evaluation of bids and to approve the allocation of such grant on acceptable terms.

-           agreed to contribute retained Right to Buy 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 Resources in consultation with the Chief Legal Officer, the Chief Finance Officer and the Operational Director, Housing and Culture in consultation with the Lead Member for Housing to approve the contribution of such receipts.