Purpose

To approve the funding to
deliver this programme and sign the Memorandum of
Understanding.

Content

1.       Noted that on the
11th October 2024 the Leader of the Council approved a
report to sign a Memorandum of Understanding with the Ministry of
Housing, Communities and Local Government (MHCLG) to deliver Round
Three of the Local Authority Housing Fund, with the sum of
£1,524,150 of capital and revenue grant funding. 
 

2.       Approved that the
Council enters into an Addendum to the Memorandum of Understanding
with the MHCLG to deliver Round Three of the Local Authority
Housing Fund, to provide the Royal Borough of Greenwich with an
additional £883,000 of capital grant funding. The Addendum to
the Memorandum of Understanding is contained in Appendix 1 of this
report.
 

3.       Approved the
following budgets to enable the delivery of the additional Round
Three funding for the Local Authority Housing Fund
programme:
·       
MHCLG Capital Grant = £883,000
·       
General Fund Borrowing = £1,032,000
 

4.       Noted the
assumptions outlined in section 4 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.  These assumptions ensure the
proposals in this report do not provide a General Fund budget
pressure.     
 

5.       Delegated to the
Director of Place and Growth authority to acquire properties and
otherwise apply the funding under, and in accordance with, the
Local Authority Housing Fund programme.
 

6.       Noted that on
17th July 2023 the Leader agreed to change the scheme of
delegation to withdraw the delegation to Cabinet in respect of the
Local Authority Housing Fund and allocate the matter to himself as
Leader of the Council.