Decision - Westminster Community Homes - Funding requirements for spot purchases used as affordable housing | Westminster City Council
Decision details

Decision - Westminster Community Homes - Funding requirements for spot purchases used as affordable housing

Decision details

Westminster Community Homes - Funding requirements for spot purchases used as affordable housing

Decision Maker: Cabinet Member for Finance, Property and Regeneration, Cabinet Member for Housing and Customer Services

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

Approval of Cabinet Members sought for funding requirements for spot purchases used as affordable housing.

Decision:

1.            That the financial appendices attached to this report be exempt from disclosure by virtue of the Local Government Act 1972, Schedule 12A, Part 1, paragraph 3, in that it contains information relating to the financial or business affairs of any particular person (including the authority holding that information).

 

2.            That the Cabinet Member for Finance, Property and  Regeneration and the Cabinet Member for Housing and Customer Services approved a funding contribution of £5.237m be provided from the Affordable Housing Fund to Westminster Community Homes towards 34 properties purchased by Westminster Community Homes for use as affordable housing.

 

Reasons for Decision 

1.         The provision of funding by the City Council to Westminster Community Homes assists in the delivery of additional affordable homes in the city and also helps with land assembly in those areas of the City where regeneration is planned.

2.         It is a permitted use of the Affordable Housing Fund to finance the delivery of new affordable housing in Westminster.

Publication date: 13/08/2018

Date of decision: 13/08/2018

Effective from: 21/08/2018

Accompanying Documents: