Issue - meetings

To consider the purchase of a development site, Great Chesterford by the Housing Revenue Account.

RESOLVED to:

i)              Approve the purchase by the HRA of the development site in Great Chesterford for the asking price, subject to satisfactory surveys and an independent valuation confirming this to be a fair price for the site.

ii)             Authorise the Assistant Director of Housing Communities and Health to settle the final price and terms for the proposed purchase after consultation with the Housing Portfolio Holder.

The Portfolio Holder for Communities and Partnerships summarised the report.

He informed Cabinet that an opportunity had arisen to purchase a development site in Great Chesterford using the HRA which would increase the Council’s housing stock. The purchase of the site would be funded from a mixture of Right to Buy receipts, which had to be used within a specific timeframe, and Council borrowing.

            RESOLVED to:

i)          Approve the purchase by the HRA of the development site in Great Chesterford for the asking price, subject to satisfactory surveys and an independent valuation confirming this to be a fair price for the site.

ii)         Authorise the Assistant Director of Housing, Health and Communities to settle the final price and terms for the proposed purchase after consultation with the Housing Portfolio Holder.

The meeting ended at 7.35pm.