Issue - meetings

That the retrospective acquisition of 28 Mylne Square as set out in the report; funded from retained Right to Buy receipts and the Housing Revenue Account, be agreed.

The Executive considered a report relating to the acquisition of property at 28 Mylne Square in order to provide much needed additional affordable rented housing for the Borough.

The Executive Member for Planning and Highways explained that the property had been funded from the Housing Revenue Account and retained Right to Buy receipts which if this money had not been spent in line with the contract with the Department of Communities and Local Government would have had to be repaid at 4% above base rate.

RECOMMENDATION:  That the retrospective acquisition of 28 Mylne Square as set out in this report; funded from retained Right to Buy receipts and the Housing Revenue Account be agreed.