Issue - meetings
TH Affordable Housing Grant - continuous market engagement (George Green's Almshouses) (IO80235)
Meeting: 06/06/2018 - Grants Determination (Cabinet) Sub-Committee (Item 7.2)
7.2 TH Affordable Housing Grant - continuous market engagement (George Green Almshouses) PDF 153 KB
Decision:
Tracey St Hill, (Principal RSL Partnerships Officer)presented the report seeking the allocation of grant funding to the George Green Almshouses for the provision of additional affordable housing from right to buy receipts.
The Sub - Committee were reminded that in December 2015, the Commissioners agreed that £7.06 millions of retained Right Buy Grants Receipts could be used for the establishment of a Local Affordable Grants Programme for the provision of affordable housing. The Mayor in Cabinet had since ratified grant funding for this scheme. The application from George Green Almshouses sought grant funding to provide two properties from Poplar Harca.
The Chair invited the Chair of GSSC to comment on the report and he reported that the GSSC 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 grant funding for the amount listed in 1.7 of the report to George Green’s Almshouses, together with a 10% uplift to take account of potential increases in build or 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.
Meeting: 04/06/2018 - Grants Scrutiny Sub-Committee (Item 7)
Additional documents:
Minutes:
Tracey St Hill, Registered Providers Partnership and Development Officer, presented her report in relation to the Affordable Housing Grant Programme – George Green’s Almshouses. Ms St Hill explained to members, Cabinet had agreed to set up a £7.06M fund of retained RTB receipts to be used for the period 2016 onwards. In January 2018 a further £5m of additional grant funding was agreed to allow for the acquisition and development of schemes that provide affordable housing.
Ms St Hill stated George Green’s Almshouses were looking to purchase two properties from Poplar HARCA and sought a grant of £210K. She said the properties would be managed by Providence Row Housing Management, with the freehold being retained by Poplar HARCA.
Members of the Sub-Committee asked the following questions:
· Are the two units for purchase, ex-stock transfers?
· Do RTB receipts attract compounded interest if monies are to be returned to the government?
Members of the Sub-Committee AGREED to recommend to the Grant’s Determination Sub-Committee to:
1. Authorise the Corporate Director Place to award Right to Buy grant funding for the amount listed in 1.7 of the report to George Green’s Almshouses, together with a 10% uplift too take account of potential increases in build or acquisition costs.
2. Authorise the Corporate Director Place to enter into a grant agreement and make decisions relating to any associated matter to give effect to the delegation referred to in paragraph 1 above.