Issue - meetings

1.                 Agree that the Council will commit up to £4,832,400 in capital expenditure as match funding for the LAHF3 scheme;

2.                 Agree that the Council will commit up to £826,438 in capital expenditure as match funding for the LAHF1&2 residual funds;

3.                 Agree to the allocation of £750,000 in Affordable Housing (off-site) s.106 funding as part of TRDC’s LAHF match funding;

4.                 Approve the purchase of up to 14no. residential properties and delegate the approval and details of each purchase to the Director of Finance, in consultation with the Leader of the Council and Lead Member for Resources, Regeneration & Economic Development.

5.                 Approve the principle of the management arrangements and delegate the approval and details of grant of any lease or management agreements for any of the residential properties with one of our Housing Association partners to the Director of Finance, in consultation with the Leader of the Council and Lead Member for Resources, Regeneration & Economic Development.

Councillor Giles-Medhurst moved the recommendation as set out in the report, seconded by Councillor Nelmes.

Some members expressed concern regarding match funding.

This was disputed by other members as it had been explained the background and basis for match funding had been explained to members for the Commercial Ventures Shareholder Panel. It was stated there was not a requirement for match funding to be provided as long as the council could provide housing units.

On being put to the Council the motion was declared CARRIED by the Chair of Council, the voting being; 23 For, 12 Against and 1 Abstention.

RESOLVED

That:

1.                 Agree that the Council will commit up to £4,832,400 in capital expenditure as match funding for the LAHF3 scheme;

2.                 Agree that the Council will commit up to £826,438 in capital expenditure as match funding for the LAHF1&2 residual funds;

3.                 Agree to the allocation of £750,000 in Affordable Housing (off-site) s.106 funding as part of TRDC’s LAHF match funding;

4.                 Approve the purchase of up to 14no. residential properties and delegate the approval and details of each purchase to the Director of Finance, in consultation with the Leader of the Council and Lead Member for Resources, Regeneration & Economic Development.

5.                 Approve the principle of the management arrangements and delegate the approval and details of grant of any lease or management agreements for any of the residential properties with one of our Housing Association partners to the Director of Finance, in consultation with the Leader of the Council and Lead Member for Resources, Regeneration & Economic Development.