Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: July 16, 2025

Purpose:

Content: 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.