Agenda and minutes

To receive any disclosures of interest from Councillors in accordance with the Council’s Code of Conduct for members.

Councillor R.A. Smith-Ainsley declared a non-pecuniary interest in the item before the Council, due to his position as a representative on the A2Dominion Customer Service Board and on the basis that A2Dominion is the main social housing provider for the Council.

There were no other interests.

To consider a request for a supplementary Capital estimate, as set out in the joint report of the Regeneration Manager and Joint Head of Asset Management in relation to acquisition of properties in the Borough.

It may be necessary during discussion of this item to move the exclusion of the Press/Public, in view of the likely disclosure of exempt information within the meaning of Part 1 of Schedule 12A to the Local Government Act 1972, as amended by the Local Government (Access to Information) Act 1985 and by the Local Government (Access to information) (Variation) Order 2006.

The Council considered a report on a request for a supplementary Capital estimate for property acquisitions in the Borough, to provide much needed affordable housing as well as income and capital growth. The Leader addressed the Council as follows:

“The report before you this evening is asking Council to agree to increase the amount of capital provision that it has available to spend on acquiring additional properties in the borough, and in so doing increase our asset base.

It is important to understand the reasons why this is being asked for. There is an increasing need to provide both affordable housing and emergency accommodation for homeless families.  A lot of our hard working residents (whose jobs support the local economy) are simply not able to afford to buy their own homes due to rapidly increasing house prices. The intention is to use this additional capital to buy properties which can house those families. We will also look at ways of ensuring that an on-going rental income stream comes to the Council.

It may also be spent on providing emergency temporary accommodation (Bed and Breakfast) which will not only help reduce our costs but ensure that families have a better chance of being housed in the borough (which presents less challenges and is better for the residents with respect to proximity to family support networks etc).

In the future it may also be spent on buying properties for social and economic regeneration within our town centres, both to support growth and bring in an income stream to help support the Council’s budget.

However, as a Council we will only look to buy properties where it makes business sense to do so. It is not necessarily the case that all the capital which is being asked for will be spent.

If the extra capital is agreed by Council, a Cabinet meeting will follow immediately after this meeting to consider whether we acquire two properties in the borough designed to help meet the need for affordable housing and temporary emergency accommodation. It is the role of Cabinet to review and consider the report in detail, and to make a decision on whether to proceed with the purchases.

I therefore move that Council:

·         Approves the request for supplementary capital expenditure for property acquisitions of up to £29m for 2016/17 (for service provision – specifically for affordable housing and emergency accommodation, economic and social regeneration or to generate an on-going income stream) and

·         Agrees the revised set of prudential indicators which include the operational boundary and authorised limit for external debt.”

The motion was seconded by Councillor A.C. Harman and in accordance with Standing Order 22.4, he called for a recorded vote to be taken on the motion before the Council.

The voting was as follows: