Issue - meetings

As detailed in the recommendation.

Councillor Brown introduced the Buy Back of Council Right to Buy (RTB) Properties report.  A new policy was proposed which set out the Councils approach to the strategic acquisition of properties that became available on the open market including taking up the option of purchasing ex Council properties that had been sold under the Right to Buy (RTB) scheme.

The Chief Officer (Community and Enterprise) explained that the policy also highlighted the potential circumstances wherein the Council may consider property purchases as a “strategic acquisition”, where there was a sound business case for doing so. 

Examples of “strategic acquisition” were:

·         Properties causing blight in neighbourhoods where the Council had an interest or investment;

·         Properties where the owner was struggling with mortgage or cost of maintaining the property;

·         Properties that could meet an unmet demand; and

·         Properties that would free up land or access to a site suitable for development of affordable housing.

Councillor Shotton welcomed the report which was a significant milestone in helping to tackle the ongoing housing crisis.

The Chief Officer (Community and Enterprise) said the report had been considered at Community and Enterprise Overview and Scrutiny Committee and had been welcomed by Members.

RESOLVED:

That the implementation of a Strategic Acquisition Policy (incorporating Right to Buy Buyback) be approved.