Issue - meetings

The report informs the Executive Member that a new regional loan product has been developed by the Regional Homes and Loans Service aimed at alleviating fuel poverty within the city and asks him to agree amendments to the Private Sector Assistance Policy to ensure York residents are able to access the new product.

Resolved:

(i)           That the development of the loan product to tackle fuel poverty be noted.

(ii)          That Option 1, to amend the Private Sector Assistance Policy and introduce a new Energy Repayment Loan product, be agreed.

Reason:  The new evidence base from the Building Research Establishment found that, although fuel poverty levels in the City were generally below the national and regional average, there were certain Wards which were found to be higher.

The Executive Member considered a report that informed him of the new regional product that had been developed by the Regional Homes and Loans Service aimed at alleviating fuel poverty within the city.

Officers gave an update and confirmed that since 2007 York council and 21 other local councils used the Regional Homes and Loans Service based with Sheffield City Council to deliver a range of loan products, in particular the loan called Home Appreciation Loan.  It was now proposed to recycle funds from redeemed Home Appreciation Loans and other loan products to help tackle Excess Cold and Fuel Poverty across the Yorkshire and Humber Region.

The Executive Member noted that these new affordable Energy Repayment Loans (ERL) would be available from 1 April 2016, subject to delegating the function to Sheffield and had been developed to complement and supplement other energy efficiency funds. The ERL was designed to be a loan of last resort, where other forms of finance were not viable.

In answer to the Executive Members questions officers confirmed that each loan was based on regular affordable monthly repayments, managed by the Homes and Loans service and repayments would normally be by means of direct debit but should the house be put up for sale or the loan owner had died, it would be repaid once the property had been sold.

Officers confirmed that in order for the Council to carry out this function it would need to delegate its powers to Sheffield City Council to award the grant in the same way as the Home Appreciation Loan.

Resolved:

(i)           That the development of the loan product to tackle fuel poverty be noted.

(ii)          That Option 1, to amend the Private Sector Assistance Policy and introduce a new Energy Repayment Loan product, be agreed.

Reason:  The new evidence base from the Building Research Establishment found that, although fuel poverty levels in the City were generally below the national and regional average, there were certain Wards which were found to be higher.