Decision details

To agree funding and authorities to deliver the programme

1.            Approved the following budgets to enable the delivery of the Council Homes Acquisition Programme (Temporary Accommodation):

·        Council Homes Acquisition Programme Grant = £13,248,756

·        General Fund Borrowing = £20,041,244

2.            Noted the CHAPS Temporary Accommodation programme will be delivered under the Greater London Authority 2021 – 2026 Affordable Housing Contract, from which a Deed of Variation to include the CHAPS programme generally was agreed by the Leader as part of the CHAPS HRA decision of 13 August 2024.

3.            Noted the assumptions outlined in Appendix 1 of this report, which apply a portfolio approach to the delivery of the programme and set indicative purchase prices per property against each bedroom size.    

4.            Delegated to the Director of Regeneration, Enterprise and Skills authority to acquire properties and otherwise apply the funding under, and in accordance with, the Council Homes Acquisition Programme.

5.            Noted that on 24^th May 2024 the Leader agreed to amend the scheme of delegation to allocate to himself to approve matters in relation to the Council Homes Acquisition Programme.   

6.            Noted that the Council is also under immediate and sustained pressure to reduce spend on temporary accommodation and requires the ability to acquire properties in order to fulfil this duty as a matter of urgency and before the next Cabinet Meeting.