Decision details

To use right to buy receipts to purchase properties for use as affordable housing

RESOLVED THAT

1.    The Head of Property and Asset Management ( in consultation with the section 151 Officer) be authorised to purchase dwellings that are considered to be suitable for use as affordable housing (in accordance with  the parameters as set out within Section 4.4 of this report), subject to a total cap on the consideration paid of £0.5 million (this is additional to the £1m already authorised by Cabinet in November 2015);

2.    The Borough Solicitor be authorised to negotiate and complete such documents as she deems necessary or desirable to conclude the transactions negotiated by the Head of Property and Asset Management under Resolution 1 above;

3.    the Section 151 Officer be authorised to use the Right to Buy receipts where necessary to fund the acquisition of the properties purchased under Resolution 1 above.