Decision details

Use of retained Right to Buy receipts

Decision Maker: Strategy and Resources Committee

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: No

Purpose:

A previous report to the Strategy and Resources Committee 7th July 2014 obtained authority for officers to take all necessary steps to ensure that reinvestable (net) Right-to-Buy receipts are applied to new build council housing. This report updates members on the issues surrounding the spend of those receipts,makes recommendations for future spend and asks for delegated authority to authorise RTB grants to deliver new supply.

Decisions:

The committee considered a report updating members on the issues surrounding the spend of right to buy receipts and seeking an approved approach to future spend. Members discussed whether the re-investable receipts had to be spent within the borough. Officers confirmed that they would further explore options, particularly with colleagues within the South London Partnership, for spend outside of the borough.

 

Resolved

 

1.    That the Strategic Director, Environment, Housing and Regeneration, in consultation with Strategic Director of Resources, is delegated authority to enter into grant agreements with registered providers or other bodies, to provide affordable housing in return for right to buy receipts.

 

2.    That suitable Housing Revenue Account (HRA) sites be disposed of to, registered providers or other bodies to deliver new affordable housing

 

Report author: Gill Daw

Publication date: 21/07/2016

Date of decision: 11/04/2016

Decided at meeting: 11/04/2016 - Strategy and Resources Committee

Accompanying Documents: