Decision details

In December 2024 – Strategy and Resources Committee unanimously approved the project:
1.To approve the proposal to spend up to £33,383,400 in PWLB borrowing on the acquisition of up to 75 homes for use as Temporary Accommodation subject to:
•a. the Full Business Case being signed off;
•b. the £33,383,400 (or such other amount as agreed) being approved within the Council’s full budget for the 2025/26 financial year.
2.To authorise the Executive Director: Growth and Regeneration in consultation with the S151 Officer and Chair of the Strategy and Resources Policy Committee to take all steps required to sign off and implement the Full Business Case.
This ODN documents the Full Business Case being signed off including the below additions:
a)Approval to add LAHF £3.3m grant to the project with no additional committed savings until delivery is more confident of extra units
b)Approval to rollover any unspent capital into 25/26 financial year to deliver outstanding units
c)Approval to purchase as many suitable units as the budget allows

Approve Full Business Case to purchase properties for Temporary Accommodation, to add £3.3m of LAHF funding to the budget, to allow rollover of unspent budget into 26/27 financial year and to purchase as many suitable properties with the budget as possible.

Option 1 - Looked at working with external finance, but it was decided to start with Bristol City Council borrowing the £33m as we get the best rates of borrowing.