Issue - meetings
Housing Revenue Account Buy Back Ex-Local Authority Property, Weybourne, Farnham
Meeting: 28/09/2023 - Executive Co-Portfolio Holder for Housing Decisions (Item 29)
PDF 577 KBThe purpose of this report is to request the approval to buy back an ex-council home in Weybourne, Farnham to provide quality housing in an area with high housing need. The purchase of the home will be funded from the Housing Revenue Account buy back reserve. After one year from purchase the property will start to make a net income contribution to the Housing Revenue Account.
Recommendation
That the Executive - Co Portfolio Holder for Housing (Operations & Services) is asked to:
1. Approve the principle of the buy back on the terms set out in the report, and the use of the buyback reserve for this, together with any related professional costs and Stamp Duty Land Tax. Further approves the property being appropriated for Housing Purposes as part of the Housing Revenue Account.
2. Delegate to the Executive Head of Housing to approve the final terms of the purchase.
3. Grant delegated 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(s) for Recommendation:
To support the Council’s ability to meet housing needs in the borough.
Additional documents:
- 2.1 Annexe 1 Market Valuation - No.38 Weybourne Road, Farnham,Surrey - Update 23-2-2023 MJA (Exempt) , View reasons restricted (29/2)
- 2.2 Annexe 2 Recomendation Letter - Caroline Wallace WBC - No. 38 Weybourne Road, Farnham (Exempt) , View reasons restricted (29/3)
- 2.3 Annexe 3 Department for Communities & Local Government - Housing Act 1985letter (Exempt) , View reasons restricted (29/4)
Decision:
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 buyback reserve for this, together with any related professional costs and Stamp Duty Land Tax. Further approves the property being appropriated for Housing Purposes as part of the Housing Revenue Account.
2. Delegate to the Executive Head of Housing to approve the final terms of the purchase.
3. Grant delegated 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(s) for Recommendation:
To support the Council’s ability to meet housing needs in the borough.
Minutes:
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 buyback reserve for this, together with any related professional costs and Stamp Duty Land Tax. Further approves the property being appropriated for Housing Purposes as part of the Housing Revenue Account.
2. Delegate to the Executive Head of Housing to approve the final terms of the purchase.
3. Grant delegated 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(s) for Recommendation:
To support the Council’s ability to meet housing needs in the borough.