Purpose

To consider the report on Local Authority
Housing Fund (LAHF) Round 3 Funding

Content

Agreed:
 
RECOMMENDED
that Council agree option 2 at the Extraordinary
meeting on 10 June as follows:-
 
(1) 
to accept the full allocation of £594,000 in
Department for Levelling Up, Housing and Communities (DLUHC) grant
funding;
(2) 
the purchase of four properties off the open
market;
(3) 
that the Council’s Capital contribution is
funded through £297,000 of S106 funds;
(4) 
the identification and purchase of suitable
properties to let;
(5) 
that the rents be set at affordable rates in
accordance with the provisions of the Memorandum of Understanding
between DLUHC and Exeter City Council and the DLUHC recommended
rental funding model Rent Standard – April 2023;
(6) 
that the MOU (Appendix 1) be signed and returned to
DLUHC by the 12th of June 2024 confirming the Council’s
participation in the programme; and
(7) 
that delegated authority be granted to the Director
of City Development and Housing and the relevant Portfolio Holder
to proceed with the acquisitions and to amend the number of
properties purchased in line with the above agreement. This is to
include where additional government grants may become available
(provided that no further capital contribution is required from
Exeter City Council).
 
Reason for Decision: As set
out in the report.