Decision details

The purpose of this decision is to respond to the consultation prospectus on the government’s proposal to replace the Housing Revenue Account (HRA) Subsidy System, which offered this authority to take on £197 million of debt incurred by other councils, in return for which the authority would be able to retain 100% of housing rent collected locally.

Cabinet AGREED:

(a)               to transfer of the hostel site and nearby properties at Robson Court, Waterbeach, as listed in Appendix 1 to the report to Cabinet, to Sanctuary Carr-Gomm at nil value;

(b)               the demolition of the properties at Robinson Court, Grays Road, Gamlingay and Fairview, Longstanton before 31 March 2017, as listed in Appendix 2 to this report;

(c)               the appointment of a specialist financial advisor to develop options for the raising of the funds required for the Council’s self-financing settlement commitment; and

(d)               to delegate authority to the Executive Director (Corporate Services), in consultation with the Leader and Finance and Staffing Portfolio Holder, to pursue the Council’s credit rating.