INCREASING THE SUPPLY OF NEW AFFORDABLE HOUSING: LOCAL AUTHORITY HOUSING FUND TO SECURE 24 NEW AFFORDABLE HOMES
September 19, 2024 Deputy City Mayor - Housing, Economy, and Neighbourhoods (Cabinet member) Key decision Approved View on council websiteThis summary is generated by AI from the council’s published record and supporting documents. Check the full council record and source link before relying on it.
Summary
...to approve the use of £6.024m, including a £2.758m grant and £3.266m of borrowing, to secure 24 new affordable housing units and add this amount to the 2024/25 HRA capital programme.
Full council record
Purpose
To seek approval to
add £6,024k to the HRA Capital Programme to secure 24
affordable housing units across the city, funded from £2,758k
of LAHF capital grant and £3,266k of HRA borrowing.
Decision
To approve:
i) the use of
£6.024m, to secure 24 affordable housing units across the
city to meet the objectives outlined in the Decision report;
ii) the addition
of £6.024m to the 2024/25 HRA capital programme financed from
£2.758m of LAHF grant and £3.266m of prudential
borrowing.
Reasons for the decision
To enable LCC to
secure £2.758m of grant funding towards the acquisition of 24
new council homes; and to enable the total costs related to these
acquisitions to be approved expenditure within the Housing Capital
Programme.
Details
| Outcome | Recommendations Approved |
| Decision date | 19 Sep 2024 |
| Subject to call-in | Yes |