Decision details

Housing Investment Programme - Acquisition of Land and Buildings for the Housing Revenue Account

Decision Maker: Executive

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To transfer money from provisional budget to approved budget for the Housing Revenue Account for the acquisitions.

Decision:

Decision:

That the existing Housing Revenue Account (HRA) Acquisition Provisional Budget of £7 million for 2022-23 and 2024-25 is moved to the HRA Approved Capital Programme

Reason(s):

To facilitate the delivery of social housing whilst contributing to the Councils plan to fully utilise Right To Buy receipts.

Other options considered and rejected by the Executive:

2.     Do nothing:  End the current element of the programme, and potentially repay RTB receipts, plus interest, to the Government as they may not be utilised.

3.     Defer a decision until the next HRA Budget is brought forward in 2023:  End the current scheme and not progress schemes and opportunities currently in development and remodel the Future Programme for consideration 

Details of any conflict of interest declared by the Leader or lead councillors and any dispensation granted:

None.

Report author: Siobhan Rumble

Publication date: 28/10/2022

Date of decision: 27/10/2022

Decided at meeting: 27/10/2022 - Executive

Effective from: 04/11/2022

Accompanying Documents: