Decision details

Affordable Housing Fund

Decision Maker: Cabinet

Decision status: For Determination

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

To consider the establishment of an Affordable Housing Fund.

Decisions:

Cabinet considered the report of the Director of Neighbourhoods which outlined proposals for the Affordable Housing Fund (AHF).

 

Alternatives considered:

 

Not invest AHF monies. This would result in the risk of losing available funding as Section 106 planning obligations which remain unspent must be returned to developers from whom they were secured if not spent on their defined purpose.

 

Continue to rely on Registered Providers and private developers for all new housing delivery – this could run the risk of the gaps in provision.

 

Resolved:

 

1.    That the issues/difficulties currently affecting housing provision within the Borough as referred to in the submitted report be noted; 

 

2.    That the use of AHF monies to invest in housing schemes to meet the housing needs in the Borough and to meet all costs, as set out in Section 4 of the submitted report be approved;

 

3.    That the delegation to the Property and Growth Fund Sub-Committee in conjunction with the Director of Resources and the Director of Neighbourhoods to approve all project-specific costs and actions necessary to deliver specific projects to completion be approved.

 

Reasons for the decision:

 

In order to release the AHF for investment in affordable housing to meet housing need.

 

Eligible for call in - yes

 

 

 

 

Report author: Peter Maynard

Publication date: 26/02/2020

Date of decision: 02/12/2019

Decided at meeting: 02/12/2019 - Cabinet

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