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:

  1. 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.
  2. 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: