Decision details

To update the Executive on delivery against the Housing 1-4-5 Challenge and seek approval for changes to relevant scheme and funding approval processes to improve efficiency and ability to respond to new opportunities.

That:

1)              authority be delegated to the Deputy Chief Executive, in consultation with the Lead Member for Finance and Housing, to approve the transfer of land or property to the Council’s housing companies for the purposes of providing new homes to address agreed local housing need and where appropriate at less than market value in line with The General Housing Consents 2013 or subsequent amendments;

2)              authority be delegated to the Deputy Chief Executive, in consultation with the Lead Member for Finance and Housing, to approve the funding (grant and/or loans) of any new homes provided by the Council through its Housing Revenue Account or its housing companies provided the funding required has been approved as part of the Council’s Medium Term Financial Plan and within existing borrowing approvals and the new homes contribute to the Housing 1-4-5 Challenge and address agreed local housing need;

3)              authority be delegated to the Deputy Chief Executive, in consultation with WBC (Holdings) Ltd, to approve the interest rate at which any long term loan is charged to the Council’s housing companies for any new housing developments.