To consider the recommendation of Cabinet and a report that seeks approval to proceed with the acquisition of four residential properties.

The Council considered the recommendation of the Cabinet (as set out in the Cabinet’s Record of Decision and the submitted report) in respect of the funding to acquire four properties as part of the Local Authority Housing Fund Round 3.

Councillor Tyerman proposed and Councillor Cowell seconded a motion, which was agreed (unanimously) by the Council as set out below:

that the Capital Programme be uplifted by a maximum of £1,301,500 to acquire the four properties, part-funded by a grant of £551,500 from the Ministry of Housing, Communities and Local Government.  The remaining balance of £750,000 to be funded by a combination of: prudential borrowing; revenue savings from existing Temporary Accommodation budgets; or any other relevant internal subsidy or receipts that may be appropriate.  With delegated authority to the Director of Finance, in consultation with the Cabinet Member for Housing and Finance to agree the precise balance of funding sources to be deployed.

To consider a report that seeks approval to proceed with the acquisition of four residential properties.