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Decision details

Request for authority to sell properties purchased by the Council for PRS purposes to the Council’s wholly owned company ‘Investing 4 Brent’ for the discharge of homeless duty

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

To approve the sale of properties purchased by the Council for the Private Rented Sector programme to be sold to the new wholly owned Council company ‘Investing4Brent’.

To approve the valuation methodology for the disposal of the properties from the Council to the Council’s wholly owned subsidiary.

To delegate authority to the Strategic Director Resources, in conjunction with the Chief Finance Officer, to approve future sales under the PRS programme.

Decision:

RESOLVED:

 

12.1 Cabinet approved the sale of residential properties purchased or identified by the Council for the Private Rented Sector programme to be sold to the new wholly owned company ‘Investing 4 Brent’ on the basis of the valuation methodology set out in this report.

 

12.2 Cabinet delegated authority to the Strategic Director of Resources, in consultation with the Chief Finance Officer, for the sale of properties identified for the PRS programme to Investing 4 Brent.

 

12.3 Cabinet approved the change of name of the Council’s wholly owned company from Investing 4 Brent Ltd to I4B Holdings Ltd.

 

Wards Affected: (All Wards);

Contact: Chris Brown, Programme Manager (PRS Portfolio Acquisitions) Email: chris.brown@brent.gov.uk.

Report author: Chris Brown

Publication date: 23/05/2017

Date of decision: 22/05/2017

Decided at meeting: 22/05/2017 - Cabinet

Accompanying Documents:

 

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