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1.   
Approved that the Council enters into a Memorandum
of Understanding with the Department for Levelling Up, Housing and
Communities, as set out in Appendix 1 of this report, to deliver
Round Two of the Local Authority Housing Fund and provide the Royal
Borough of Greenwich with £13,000,000 of capital grant
funding.
 
2.   
Noted that on the 20th November 2023 the Leader of
the Council approved a report to sign a Memorandum of Understanding
with the Department for Levelling Up, Housing and Communities to
deliver Round Two of the Local Authority Housing Fund, in the sum
of £8,000,000 of capital grant funding. 
 
3.   
Noted that on the 18th January 2024 the Leader of
the Council approved a report to sign a Memorandum of Understanding
with the Department for Levelling Up, Housing and Communities to
deliver Round Two of the Local Authority Housing Fund, with the
total sum varied to £10,000,000 of capital grant funding,
following a successful application for a further £2,000,000
funding. After this approval the Department for Levelling Up,
Housing and Communities have agreed to provide the Royal Borough of
Greenwich with a further £3,000,000 of capital grant funding
from Round Two, thus the requirement for this variation to a gross
capital grant value of £13,000,000. 

 
4.   
Approved the following budgets, in addition to the
Local Authority Housing Fund Round Two budgets already agreed on
20th November 2023 and 18th January 2024, to enable the delivery of
Round Two of the Local Authority Housing Fund programme:
 

·        
DLUHC Grant = £3,000,000

·        
General Fund Borrowing = £2,197,500

 

5.   
Noted the assumptions outlined in Appendix 2 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.     
 

6.   
Delegated to the Director of Regeneration,
Enterprise and Skills authority to acquire properties funded with
the additional capital grant from Round Two of the Local Authority
Housing Fund, and otherwise apply the funding under, and in
accordance with, the Local Authority Housing Fund
programme.
 

7.   
Noted that the Memorandum of Understanding relating
to the Local Authority Housing Fund was originally due for
signature on 14 August 2023 but this was delayed so that additional
funding could be sought.

 

8.   
Noted that as access to the funding is required as a
matter of urgency and before the next Cabinet, the Leader of the
Council has amended the Scheme of Delegation to enable these
matters to be approved by the Leader of the Council owing to the
urgency with which the Council is required to take these matters
forward in fulfilment of its duties.