The Executive approved the Private Sector Housing Strategy in April 2003 (Minute 396) subject to review in 6 months. The Council has allocated money to improve housing or to bring empty properties back into use. However, the take up of grants under this system is nil. This means the Council is facing a substantial underspend in its Capital Programme. Received a report seeking to reduce this underspend by making changes to the Private Sector Housing Strategy in advance of a fuller review, however an underspend of £250,000 is still anticipated in the 2003/04 budget.
Agreed, in order to reduce the risk of underspend and to meet the aims of the Private Sector Housing Strategy, to replace the existing policy for financial assistance with:
1. Repair Grants and Safety Net Grants – increased maximum amount and altered payback requirements as set out in the report.
2. Empty Property Grants – amended as set out in the report.
3. Grants for Home Improvement Zones. This is a new form of financial assistance.
4. Financial assistance to always be based on owners’ responsibility for their own home.