Decision details
Purchase of Properties to add to Housing Stock
PDF 44 KBDecision Maker: Leader of the Council
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
Purpose:
There is a requirement to spend £1.5
million within the Housing Revenue Account (HRA) development
programme by the end of Quarter 3 (December 2019) to avoid having
to repay Right To Buy (RTB) Receipts with interest to the
government.
Reasons for the decision:
To approve the use of RTB receipts and HRA borrowing up to a limit of £1.5 million to purchase 2 and 3 bedroom open market properties as additional stock within the HRA.
Alternative options considered:
None.
Interests and Nature of Interests Declared:
None.
Urgent item?: Yes
Publication date: 24/10/2019
Date of decision: 24/10/2019
Accompanying Documents: