Decision details

Decision to support the delivery of the Local Authority Housing Fund programme which will deliver 22 homes for Ukrainian and Afghan families. Purchase of the open market properties will be via LAHF grant passported via the Council together with additional borrowing from the existing ADL Loan Agreement. Therefore, in accordance with
the Shareholder Agreement 2018, updated in 2022, Aequus must seek approval from the Shareholder for Reserved Matters 22 and 28.

To approve the reserved matters below, to allow ADL to progress with supporting the Council to deliver this programme:

·  Reserved Matter 22 – approval of total asset acquisitions that will exceed £500,000 but less than £5M

·  Reserved Matter 28 – Making any borrowing

ADL were approached by B&NES in February 2023 to support them with the delivery of the Local Authority Housing Fund (LAHF) programme to provide 22 homes. ADL conducted research to identify properties suitable for this programme both within the Council’s existing property stock and on the open market and produced a detailed proposal. This was then used as part of the Council’s bid for the LAHF programme grant.

The funding for the purchase of the open market properties will be via LAHF grant passported by the Council together with additional borrowing from the existing ADL Loan Agreement.

This programme needs to be delivered at pace to ensure all homes are delivered by November 2024.

None.