Issue - meetings

Recommendations

i)         To approve the principle of an acquisition programme of up to 30 affordable homes to take into the Housing Revenue Account subject to individual business cases and approvals in line with the Council’s constitution

ii)        To approve the submission of an application for grant funding to Homes England as set out in the confidential Appendix A to support the acquisition of these homes.

Considered – A report of the Corporate Director Community Development seeking approval in principle to submit a bid to Homes England to support acquisition of 30 homes to use as affordable housing for the Housing Revenue Account.  The 30 properties were still to be identified and would be subject to further approvals.

The Executive Member for Culture, Arts and Housing, Councillor Simon Myers,  introduced the report and explained that grant funding was essential to enable delivery of council housing in high house price areas such as Harrogate and Richmondshire.  Acquisitions would be in the form of buybacks of previously owned council properties.  Each acquisition would still be subject to a business case requiring payback in 40 years.

Resolved

1)    That Executive approve the principle of an acquisition programme of up to 30 affordable homes to take into the Housing Revenue Account subject to individual business cases and approvals in line with the Council’s constitution

2)    That Executive approve the submission of an application for grant funding to Homes England as set out in the confidential Appendix A to support the acquisition of these homes.

Reasons for recommendations

Acquiring these homes and claiming Homes England grant will allow the council to deliver up to an additional 30 affordable homes, which will be for social rent and will be a mix of 1-, 2-, 3- and 4-bedroom homes. These will support the Council in meeting our target for delivering a minimum of 500 new affordable homes and will support the replacement of properties lost through RTB sales.

Alternative options considered

Not applying for Homes England grant would see the council miss out on the opportunity to deliver up to additional 30 affordable homes.

The Council can continue to acquire “buyback” properties without grant. However, this would mean being restricted to only acquiring properties, which would be viable without grant, which would be very difficult to achieve in higher value areas where there is high need. It would also mean that we could acquire sufficient properties to replace the ones lost through Right to Buy.