Decision details

Committee considered a report that sought a recommendation for Council to approve the acquisition of residential property to provide much needed accommodation for residents that are currently living in night-paid accommodation.

Funding for these properties would come from a Commuted Sum and the Local Authority Housing Fund. If Council agreed to proceed with the purchase of these residential properties, there would still be a sum available to spend on other suitable properties for use as affordable housing.

Committee resolved to:

1.    Approve the Heads of Terms in Appendix 1 relating to the acquisition of property,

2.    Make a recommendation to Council to:

2.1  approve the acquisitions,

2.2  delegate authority to the Chief Finance Officer and Group Head of Assets, in consultation with the Chair and Vice Chair of Corporate Policy and Resources Committee to agree minor variations to the Heads of Terms and the acquisition price within a tolerance of 10% of the agreed price with this Committee; and

2.3  delegate authority to the Group Head of Corporate Governance to enter into all relevant legal documentation relating to the acquisition referred to in the exempt report. 

Councillor Howkins asked that it be noted on the minutes that she was abstaining from the vote.