Issue - decisions

In consultation with the Cabinet Member for Resources, the Cabinet member agrees to:

1.1  The acceptance of the principles of the scheme as articulated in the:

(1)  LAHF Memorandum of Understanding dated 14th March, including providing 22 units of suitable accommodation in return for accepting £3.04m of DLUHC funding, attached in Appendix 1 of the report.

(2)  The LAHF High-Level Business case, attached in Appendix 2 of the report.

(3)  The contracting of Aequus to deliver and manage the homes required as detailed within the report.

1.2  In consultation with the Cabinet Member for Resources, to delegate:

(1)  Entry to the B&NES and Aequus LAHF Agreement contracting delivery of the programme and;

(2)  All operational decisions, including agreement of individual property business cases, to the Director of Regeneration & Housing in consultation with the s151 and Monitoring Officers.

1.3  To safeguard the properties purchased through the grant funding by imposing a restrictive covenant on title requiring that the Council hold the properties solely for affordable housing purposes.

1.4  To amend the capital programme, having regard to the existing full approval of programme initiation costs of £250k, as follows:

(1)  Full approval of a further sum of £1,812k reflecting estimates for 10 Open Market Purchases funded by DLUHC grant and full recognition of earmarked Homelessness Prevention Grant contribution of £267k.

(2)  Provisional Programme of £1,245k for the balance of DLUCH funding to be contingency for above and a sum for transferring Council Properties (creating 12 units) when estimates are fully completed (to be updated by future Officer Delegated Decisions).

(3)  Noting estimated loans of £1,328k to Aequus will be reflected in existing Approval for Property Company Investment - Council (Loan): Developments.