Decision details

1.            The purpose of this report is to set out the planned spending programme to ensure that commuted sum money, received in lieu of affordable housing, is spent within specified time limits for the provision of affordable housing.

2.            This is not a key decision but has been brought before the Housing Portfolio Holder to approve in principle the process for funding affordable housing using commuted sum money.

The Housing Portfolio Holder APPROVED Option A to:

a)    note the current position of the commuted sum budget

b)    agree that the default position for future funding should be to contribute to the Council’s own new-build programme. 

c)    agree that where monies cannot be spent within the set timescale, the funding shall be offered to housing associations where a need for additional resources is required to make an affordable housing scheme viable. This can be offered in conjunction with unspent Right to Buy receipts.