Issue - meetings

(Report of the Director of Urban Environment – To be introduced by the Cabinet Member for Housing): To seek agreement to enfranchise four leasehold residential properties that are in the final years of their leases deemed as a wasting asset not suitable for retention and to seek agreement to ring fence the capital receipt to enable the enfranchisement of the properties with the surplus to the Council’s resources.

(Report of the Director of Urban Environment  - Agenda Item 15)

The Appendix to the interleaved report was the subject of a motion to exclude the press and public from the meeting as it contained exempt information relating to the business or financial affairs of any particular person.

We noted that the report sought agreement to revise a previous delegated authority decision to dispose of the Council’s leasehold interest in four leasehold residential properties that were in the final years of their leases deemed as a wasting asset. The report also sought agreement to enfranchise these four properties whereby two would be retained in social housing use and two sold as being surplus to requirements. Agreement was also sough to the ring fencing of the capital receipt to enable the enfranchisement of the properties with the surplus going to the Council’s resources.

We were advised that it would be possible to give consideration to the possibility of purchasing the freeholds on these properties.

RESOLVED:

1.      That the decision taken under delegated authority on 23 April 2009 to dispose of 18 Mansfield Avenue N15, 121 Wargrave Avenue N15, 10 Clifton Gardens N15 and 185 Rosebery Avenue N17 be rescinded.

2. That approval be granted to an allocation of circa £105,000 of capital funding to Strategic and Community Housing to be repaid from sales receipts during 2010/11.

3. That approval be granted to the ring fencing of funds from the capital receipt of the subsequent disposal of the freeholds with vacant possession at 18 Mansfield Avenue and 121 Wargrave Avenue.

4. That the net proceeds of the sales be made available for the Council’s capital programme.