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Recommendations:
1.1. To approve the borrowing of £35.410 million within
the Housing Revenue Account to supplement the £36 million
funding provided by the GLA, the £9.870 million funding
provided to Islington Council by the Ministry of Housing
Communities and Local Government and the £4.635 million 141
Right to Buy receipts provided by Islington Council to enable the
council to purchase circa 193 Ex Right to Buy properties.
1.2. To note the capital funding of up to £50.505 million
allocated to Islington Council by the GLA, MHCLG and the use of
Right to Buy receipts and borrowing from the PWLB and to enter all
the grant agreements and Memorandum of Understandings to commence
the purchasing of circa 193 Ex Right to Buy properties in Islington
to accommodate homeless households with a local connection to
Islington.
1.3. To note the funding and to commence the purchase of these
properties immediately.
1.4. To approve the borrowing of £35.410 million from the
PWLB by the Housing Revenue Account.
1.5. To approve the budget increases as outlined in section 7 of
this report.
 
 
AGREED 1. RECOMMENDATIONS
2.That thanks be expressed to MHLG and
the GLA for the funding, and to the Leader of the Council and the
Director of Housing Operations for their work on this project.
 
 
– as detailed in the report
– as detailed in the report
– none