Decision details

Background / Decision Summary:

The HRA Disposals and Acquisitions programme has successfully established an approach to both sell unsuitable HRA properties and purchase suitable types set against clear, approved policy criteria. The Acquisitions would be guided by the principles and approach set out in the HRA Acquisitions and Disposals Policy: Part B, p8-11 and Appendix D.
https://democracy.york.gov.uk/ieDecisionDetails.aspx?AIId=68273

Following the decision to use HRA receipts from sales, alongside £231,099 Recycled Capital Grant Funding to include a 4- and 5-bed property in the disposal programme, alongside meeting other Acquisitions and Disposals policy requirements and objectives https://democracy.york.gov.uk/ieDecisionDetails.aspx?ID=7662

Option 1 It is proposed to:
1. Progress purchase of a 5-bed property (Property D) at a purchase price of £462,500, utilising the remaining £57,999 RCGF in addition to receipts from the sale of a higher value property (Property C).

Option 1 (recommended) – Carry out the purchases of two properties, one 4- and one 5-bed, utilizing sales receipts and £231,099 Recycled Capital Grant Funding (RCGF)

Option 2 – Utilise £231,099 RCGF for new build affordable housing delivery

Option 3 – Return RCGF to Homes England under the provisions of the capital funding guide

The following were rejected. Option 2 was rejected in part due to Homes England being unwilling to approve RCGF usage for the council’s new build affordable housing delivery programme alongside the other Homes England capital grants that have already been successfully secured for the programme.

Option 2 (rejected) – Utilise £231,099 RCGF for new build affordable housing delivery

Option 3 (rejected) – Return RCGF to Homes England under the provisions of the capital funding guide