Issue - meetings

Report of the Corporate Director of Finance and Resources (S151 Officer). To be presented by the Cabinet Member for Housing

DECLARATIONS OF INTEREST MADE FOR THIS ITEM:

None

RESOLVED:

That Cabinet:

1.    In accordance with Contract Standing Order CSO 21.01 and Contract Standing Order 9.07.1(d), approved the acceptance of capital funding (£21,771,000) and revenue funding (£124,575) from the Local Authority Housing Fund, third funding round (LAHF R3), to enable the Council to acquire 84 homes in the borough.

2.    In accordance with Contract Standing Order CSO 21.01 and Contract Standing Order 9.07.1(d), approved the acceptance of capital funding (£38,448,000) and revenue funding (£259,604) from the Local Authority Housing Fund, fourth funding round (LAHF R4), to enable the Council to acquire 152 homes in the borough.

3.    Delegated authority to the Director of Capital Projects and Property, following consultation with the Corporate Director of Finance and Resources and the Director of Legal and Corporate Governance (Monitoring Officer), to agree and enter into the final grant documentation and contracts, including the LAHF R4 Memorandum of Understanding (MoU) and any other necessary documentation.

4.    Delegated authority to the Director of Capital Projects and Property, following consultation with the Corporate Director of Finance and Resources and the Director of Legal and Corporate Governance (Monitoring Officer), to accept subsequent rounds of LAHF funding from MHCLG.

Reasons for the Decision

The Council was committed to providing good-quality housing for residents of the borough. This decision represented an important step towards achieving that aim.

Acceptance of the grant provided an opportunity to leverage additional funding into the programme, enabling the Council to deliver a greater number of homes for rent overall.

The purchase of these homes also helped to meet housing needs in Haringey, reduced pressure on the Temporary Accommodation budget, and enabled the Council to use Right to Buy receipts to fund other stock replacement projects.

Alternative Options Considered

The alternative option was not to accept the grant funding. This would have meant that additional homes were not purchased in the borough, resulting in more people remaining in temporary accommodation at greater cost to Haringey.