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RESOLVED: Cabinet:
 

a)             
Approved the proposal to acquire the properties
subject to satisfactory due diligence having been undertaken and
approval by the Chief Finance Officer.

b)             
Delegated authority to the Assistant Director of
Assets and Environment in consultation with the Chief Finance
Officer, the Portfolio Holder for Housing and the Portfolio Holder
for Finance to negotiate and acquire the properties and enter into
any documentation required to complete the Acquisition.
 
REASONS RESOLVED:
 
1.    
The acquisition of these properties will allow the
Council to increase the provision of Council owned
housing.
2.    
The Council can utilise existing approved funding
streams via the Local Authority Housing Fund Round 3, and also
through historical commuted sums negotiated on other development
sites in Brackley, in lieu of the provision of affordable housing
on site.
3.    
If the Council chose not to purchase these
properties, it is likely we would lose the provision of an
affordable rent product on site, to a low-cost market
tenure.
 
ALTERNATIVE OPTIONS:
 

Option 1 – Purchase the properties using the
identified funding streams within this report

Option 2 – Not to proceed with the
purchase
 
Options 1 is the recommended
option.