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Decision details

Right To Buy Capital Receipts

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decisions:

The report set out proposals to adopt a formal capital receipts expenditure mechanism relating to Right to Buy (‘RTB’) sales. The mechanism would allow for a more focussed and transparent approach to expenditure of monies from the sale of HRA housing stock (known as ‘RTB capital receipts’)

 

The mechanism was a high-level approach to ensuring that capital receipts were retained by the Council and allocated to garage site re-developments with outline planning permission. The purpose was to increase efficiency and to provide improved value for money through site-specific building projects.

 

The mechanism would adopt the procedure of seeking outline planning permissions and then linking earmarked capital receipts. Protection of the receipts in a timely manner would allow for subsequent approval of site specific projects by Committee and consideration of detailed feasibility reports.

 

Members requested that an updated HRA Capital Receipt Expenditure Tracker (Appendix A of the report) be brought to future committees.

 

A motion was MOVED by Cllr Hossack and SECONDED by Cllr Kerslake to agree the recommendations with a slight amendment (see below).

 

A vote was taken by a show of hands and it was UNANIMOUSLY RESOLVED:

1. That the Committee formally approve Option 1 (to implement the capital receipts expenditure mechanism.

 

2. That the Committee formally approves delegated authority for the Housing Services Manager in consultation with the Chair and/or Vice Chair of Environment, Enforcement and Housing Committee to designate sites for re-development and submit outline planning permission for those sites.

 

3. That if agreed, the proposal is referred to the Council’s Policy, Resources and Economic Development Committee for approval.

 

Reasons for Recommendation

Option 1 was recommended as the most transparent option for the Council and supports the ‘Getting our House in Order’ transformation programme for Housing Services. It would work towards ensuring financial stability and revenue protection.

 

Taking no further action would fail to advance corporate priorities and would be counter to our modernisation approach and monetary responsibilities.

Publication date: 08/07/2019

Date of decision: 25/06/2019

Decided at meeting: 25/06/2019 - Environment, Enforcement & Housing Committee

Accompanying Documents: