Issue - meetings

This report seeks permission to purchase ten properties in the open market, for general needs housing and to inform members of a further GLA grant award from the London Mayor’s fund to support the administrative costs associated with the acquisitions.

Cabinet RESOLVED

(1)      To approve the proposed acquisition of up to ten properties from the open market.

(2)      To approve a maximum budget of £3.2m to cover the remaining balance of the acquisition.

Councillor Knight (Cabinet Member for Housing, Homelessness and Renters Security) introduced a report regarding the proposed purchase of ten properties on the open market for general housing needs and informing members of a further GLA grant award from the London Mayor’s fund to support the administrative costs associated with the acquisitions.

In considering the report, Cabinet noted that the proposed acquisitions had been designed to increase the stock of Council owned affordable housing which, in accordance with the conditions of the GLA grant, would be let at social rent levels.

In supporting the proposed acquisitions, Members were keen to recognise the ongoing work being undertaken to support households who were either homeless, at risk of homelessness or in housing need and in terms of increasing the supply of safe, secure and appropriately sized accommodation.

As a result, Cabinet RESOLVED:

(1)    To approve the proposed acquisition of up to ten properties from the open market.

(2)    To approve a maximum budget of £3.2m to cover the remaining balance of the acquisition.