Decision details

To approve a change in the discretionary service charge loan policy review

Councillor Evelyn Akoto, having declared declared a disclosable pecuniary interest in respect this item as a leaseholder, did not participate in the discussion on this item.

RESOLVED:

Decisions of the Cabinet

1.  That the contents of the report proposing changes to improve the current discretionary service charge loan policy be noted.

2.  That the changes to the policy as recommended in paragraphs 20-28 of the report be agreed.

Decisions of the Leader of the Council

3.  That authority be delegated to the cabinet member for housing to agree a revised comprehensive policy reflecting the changes proposed in this report, and to review and if appropriate amend it, every five years, or sooner if a significant event occurs (as defined by the Financial Conduct Authority (FCA)).

4.  That authority be delegated to the strategic director of finance and governance to review the service charge loan interest rates on an annual basis, in order for the council to be more reactive to business, economic and environmental changes.