Issue - meetings

The Cabinet Member for Regeneration introduced a report on the proposal to establish an incentive scheme which would support the regeneration plans for the Borough and help to enable Council tenants to buy a property on the open market, as part of a project linked to the Government’s Social Mobility Fund.

The Cabinet Member explained that a successful bid of £1.2m had been made to the Department of Communities and Local Government and the Council would contribute a further £400,000 to enable 40 households to benefit from a cash incentive of £40,000 towards a property.  In view of the limited scope of the funding, the Cabinet Member advised that priority would be given to those households subject to the Council’s Estate Renewal decant programme and, amongst that group, priority would be given to older tenants and those who wished to purchase a property in Barking and Dagenham.

Cabinet resolved to:

(i)  Authorise the establishment of a Cash Incentive Scheme, aimed primarily at accelerating the Council’s Estate Renewal decant programme;

(ii)  Approve the delivery approach for the scheme as set out in section 2 of the report; and

(iii)  Approve the recommended targeting and cascade strategy as set out in section 2 and Table 1 of the report.