Decision details
To Re-purchase Anne Street property
Decision Maker: Corporate Director of Place
Decision status: Decision Made
Is Key decision?: No
Is subject to call in?: No
Decision:
Corporate Director of Place gave approval to
proceed to re-purchase property in Anne Street.
The need for homes across all affordable tenures remains high. This
property is within a block which is significantly owned by CYC and
there are asset benefits of retaining a stake in this property.
Based on the valuations given it is expected that this additional
investment would secure our revenue rental income, with the HRA
capital one-off house purchase budget initially being used to
purchase the remaining equity pending the re-sale of the equity
share. This secures this property as a CYC shared ownership
dwelling.
Options Considered:
Option 1 - Agree to repurchase.
Option 2 - Decline to give approval to re-purchase.
Options Rejected:
Option 2 was rejected.
Publication date: 24/11/2022
Date of decision: 22/11/2022
Accompanying Documents:
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