1. That the amendments as set out in paragraphs 17 to 37 of the report in relation to the Council’s rehousing assistance policy for qualifying homeowners affected by regeneration, summarised below, be approved:
o Minimum share under shared equity purchases to be revised from 50% to 25%
o Homeowners will no longer have to invest their home loss payment as part of the acquisition of a replacement Council property
o Homeowners will now be able to choose between two different Council shared equity products – shared equity or an equity loan
o Inheritance clauses in shared equity and equity loan leases to be amended to allow one inheritance
o Pre-emption clauses to be removed from shared equity or equity loan leases
o Commitment to cover additional Stamp Duty Land Tax (SDLT) costs to homeowners as a result of homeowners opting for the new equity loan model
2. That officers progress discussions with the Council’s development partners for major regeneration schemes to seek where appropriate and possible, parity in the terms of the rehousing offer made by the Council and that of its partners.