Issue - decisions

(i)         that approval be given to 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 Communities and Local Government, until 31 March 2019.

(ii)        that approval be given to, from 1 September 2015 to 31 September 2016, the purchase of open market properties in accordance with criteria to be agreed by the Chief Finance Officer, for the provision of affordable housing, expending a minimum of £2.01m of RTB receipts (30%) and £4.69m of HRA (70%) capital resources, and to delegate authority to the Operational Director for Property and Projects to agree the final terms of these acquisitions;

(iii)       that approval be given to commence procurement of a Preferred Delivery Partner, either via the Greater London Authority London Development Panel ‘Mini Competition’ process or through the Official Journal of the European Union, to provide new affordable housing with the support of Right to Buy receipts in 2016-19 and to thereafter seek Cabinet approval to award this contract.;

(iv)       that a minimum of £11.64mRTB receipts be committed to the Delivery Partnership set out in recommendation 2.3 and that the balance be available to support investment in the two Housing Zones subject to further Cabinet approval.