Decision details

Estate Renewal Leasehold Buyback Discretionary Measures

Decision Maker: Cabinet

Decision status: Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

The Cabinet will be asked to consider the following options and proposals for Council leaseholders in the estate renewal areas:

 

  • Equity Transfer/Shared Ownership Option
  • Discounted Sale
  • Gap Funding Option

Decisions:

Further to Minute 49 (2 November 2010), received a report from the Cabinet Members for Regeneration and Housing on the proposed range of discretionary measures in relation to leasehold properties, in addition to the statutory compensation arrangements, which will be available to support the progression of the Borough-wide Estate Renewal Programme.

 

Agreed, in order to assist the Council in achieving the Corporate Priorities “Safe”, “Clean”, “Fair and Respectful”, “Healthy” and “Prosperous”, to:-

 

(i)  The range of discretionary measures as detailed in the report, in addition to the statutory compensation arrangements, in relation to the buyback of leasehold properties affected by the Estate Renewal Programme; and

 

(ii)  Authorise the Corporate Director of Finance and Resources, in consultation with Legal Partners, to approve the detailed terms of any discretionary measures that may be applied.

Report author: Jeremy Grint

Publication date: 23/12/2010

Date of decision: 21/12/2010

Decided at meeting: 21/12/2010 - Cabinet

Effective from: 31/12/2010

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