Meeting documents

In 2011 the Cabinet approved the following 4 schemes to deliver affordable housing units through the use of commuted sums:

       a) The Acquisition programme delivered by L&Q, to buy back ex-social housing

       b) The provision of Your Choice Equity Loans delivered by Catalyst Housing.

       c) Downsizing – The ‘incentive to move’ scheme of approved funding.

       d) Incentive to Purchase –ceased in July 2016 due to limited take-up.

The Cabinet received a report providing an update on the delivery of each scheme and expenditure as at 30 April 2017 from the commuted sums allocation. The Cabinet noted from a table in the report that of the £8, 877,438 received £3,650.778 remained uncommitted. The report went on to propose that the uncommitted sum be allocated for opportunities that arise in working in partnership with Registered Providers, other public bodies and or developer to deliver affordable rented properties on site or to purchase temporary accommodation to support homelessness service.

RESOLVED that

1.       the Acquisition, Equity Loan and Downsizing schemes within the current allocated funding levels continue to operate; and

2.       the £3.6M available from the Affordable Housing Contributions (commuted sums) be allocated for opportunities that arise by working in partnership with Registered Providers, other public bodies and or developers to provide grant funding to deliver affordable rented properties on-site or to purchase temporary accommodation to support homelessness services.