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Decision details
Housing Revenue Account New Build Acquisitions
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To seek approval for diversion of capital
underspend in the HRA budget 2020/21 for new build acquisitions
from private developers and builders.
Decision:
Cabinet:
- Approved the use of HRA Capital Programme funds (that were to be spent over the period 2021/22 to 2024/25) to purchase approximately 100 affordable homes from private developers/housebuilders.
- Authorised the Executive Director of Growth and Regeneration in consultation with the Mayor (with appropriate legal, finance and procurement advice) to take all steps required to agree the terms of, and enter into contracts required to successfully deliver the proposed homes.
Report author: Julian Higson
Publication date: 06/10/2020
Date of decision: 06/10/2020
Decided at meeting: 06/10/2020 - Cabinet
Effective from: 16/10/2020
Accompanying Documents: