Decision details
Purchase of a property to add to the council’s housing stock using Right To Buy receipts
PDF 77 KBDecision Maker: Leader of the Council
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
Purpose:
The Leader of the Council is requested to approve the use of RTB receipts and HRA borrowing to purchase on the open market a 2 bedroom house as additional stock within the HRA at a cost of £295K as an Executive Decision.
Decision:
To approve the use of RTB receipts and HRA borrowing to purchase on the open market a 2 bedroom house as additional stock within the HRA at a cost of £295K as an Executive Decision.
Reasons for the decision:
To utilise unused Right to Buy Receipts to complete the purchase of a two bedroomed property from the open market before September when the window for using some of the RTB receipts will close. The property will provide an additional unit of valuable accommodation to the Council’s tenants. If the decision was to wait until the next Cabinet meeting on 15 July this would not provide sufficient time to complete the purchase.
Urgent item?: Yes
Publication date: 13/06/2019
Date of decision: 13/06/2019
Accompanying Documents: