Decision details

Approval of the recommendation relating to social homebuy, cash incentive, buybacks and selling council freeholds

RESOLVED:

1.  That the maximum discount allowable under the social homebuy shared ownership scheme be increased on a pro rata basis to the current statutory maximum available under the right to buy scheme for the reasons specified in paragraphs 12 to 16 of the report.

2.  That it be noted that the terms of the social homebuy lease precedents are to be updated and modernised on advice from the council’s external legal practitioner.

3.  That the proposed increase in the cash incentive grant levels as specified in paragraph 25 of the report be noted and that a pilot of a small-scale ‘Tenant Move Assistance’ scheme detailed in paragraphs 27 to 29 of the report be agreed.

4.  That any future capital receipts from sales under the social homebuy scheme are used to fund cash incentive grant expenditure.