Decision details
Tower Hamlets Affordable Housing Grant Programme - Burdett Road (Mulberry House)
Decision Maker: Grants Determination (Cabinet) Sub-Committee
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
The Grants Determination Sub Committee will be
asked to consider and endorse Officers' recommendations to award
grant funding to Mulberry Housing Society from the Boroughs Right
to Buy receipts to purchase a Section 106 Development of 42 units
to be used for the provision of affordable housing.
Decision:
The Sub-Committee considered the report which proposed to allocate Right to Buy receipt grant funding to Mulberry Housing Society to part finance the acquisition of 42 properties in Burdett Road. The grant request would contribute 30% of the scheme costs associated with the rented element.
The Sub-Committee were reminded that on 7th February 2018, the Mayor in Cabinet agreed to establish two housing delivery vehicles to expand the range of options open to the Council to deliver new housing supply across tenures. They also approved £9M of retained Right to Buy receipts for Mulberry Housing Society to purchase affordable housing.
The Sub - Committee also noted the terms of the proposed grant and that Officers considered that the proposal would provide good value for money.
The Mayor enquired and the Chair of the GSSC reported that the Sub-Committee asked questions about the management of the properties on completion of the scheme and the freehold interest. The GSSC were satisfied with the responses provided in respect of these issues and endorsed the recommendations. The Mayor then invited GDSC Members to comment on the report and they indicated that they supported the proposals.
DECISION
1. That the Corporate Director Place be authorised to award Right To Buy receipt grant funding of £2.3m to Mulberry Housing Society; in addition, allow 10% uplift to the agreed amounts to take account of potential increases in acquisition costs.
2. That the Corporate Director Place be authorised to enter into a grant agreement and make decisions relating to any associated matter to give effect to the delegation referred to in resolution 1 above.
3. To note the Equalities Impact Assessment / specific equalities considerations as set out in Paragraph 4
Report author: Tracey St Hill
Publication date: 20/06/2018
Date of decision: 06/06/2018
Decided at meeting: 06/06/2018 - Grants Determination (Cabinet) Sub-Committee
Accompanying Documents: