Issue - meetings

This report seeks approval to buy back an ex-council home in Shamley Green to provide quality housing in an area with high housing need. The property will be utilised through the Easy Move scheme to rehouse a tenant who is under occupying their home and who wishes to downsize, thereby releasing a three or four bed home.

The purchase of the home will be funded from the Housing Revenue Account Buy Back reserve.  After two years from purchase the property will start to make a net income contribution to the Housing Revenue Account.

Recommendation

That the Co-Portfolio Holder for Housing (Operations & Services):

1.         Approves the principle of the buy back on the terms set out in the report, and the use of the Buy Back reserve for this, together with any related professional costs and Stamp Duty Land Tax, and further approves the property being appropriated for Housing Purposes as part of the Housing Revenue Account.

2.         Delegates authority to the Executive Head of Housing to approve the final terms of the purchase.

3.         Delegates authority to the Executive Head of Legal and Democratic Services to approve the final form of wording of any legal agreements related to the purchase.

Having considered the comments of the Landlord Services Advisory Board (Executive Working Group), the Executive Co-Portfolio Holder for Housing, Cllr Paul Rivers,

RESOLVED to,

1.         approved the principle of the buy back on the terms set out in the report, and the use of the Buy Back reserve for this , together with any related professional costs and Stamp Duty Land Tax, and further approves the property being appropriated for Housing Purposes as part of the Housing Revenue Account.

2.         delegates authority to the Executive Head of Housing Services to approve the final terms of the purchase.

3.         delegates authority to the Executive Head of Legal and Democratic Services to approve the final form of wording of any legal agreements related to the purchase.

Reason: to support the Council’s ability to meet housing needs in the borough.

Overview & Scrutiny Committee - Resources

Having considered the comments of the Landlord Services Advisory Board (Executive Working Group), the Executive Co-Portfolio Holder for Housing, Cllr Paul Rivers,

RESOLVED to,

1.         approve the principle of the buy back on the terms set out in the report, and the use of the Buy Back reserve for this , together with any related professional costs and Stamp Duty Land Tax, and further approves the property being appropriated for Housing Purposes as part of the Housing Revenue Account.

2.         delegate authority to the Executive Head of Housing Services to approve the final terms of the purchase.

3.         delegate authority to the Executive Head of Legal and Democratic Services to approve the final form of wording of any legal agreements related to the purchase.

Reason: to support the Council’s ability to meet housing needs in the borough.

Overview & Scrutiny Committee - Resources