8 BUY TO LET SCHEME TO LET PROPERTIES FOR GWYNEDD RESIDENTS PDF 501 KB
Cyflwynwyd gan: Cyng / Cllr. Craig ab Iago
Additional documents:
Decision:
The
business case to invest £15.4m to purchase approximately 100 houses to let to
Gwynedd residents on an affordable rent was approved with every purchase to
demonstrate its own financial viability on a case-by-case basis.
It was
agreed that the Head of Housing and Property in consultation with the Head of
Legal Services and the Head of Finance Department review the statutory
arrangements for implementing the Scheme following the publication of revised
Government Housing Revenue Account Guidance and report further to Cabinet if
additional decisions are needed.
Minutes:
The report was
submitted by Cllr Craig ab Iago.
DECISION
The business case to invest £15.4m to purchase approximately
100 houses to let to Gwynedd residents at an affordable rent was approved with
every purchase to demonstrate its own financial viability on a case-by-case
basis.
It was agreed that the Head of Housing and Property
Department in consultation with the Head of Legal Services and the Head of
Finance Department will review the statutory arrangements for implementing the
Scheme following the publication of revised Government Housing Revenue Account
Guidance and report further to Cabinet if additional decisions are needed.
DISCUSSION
The report was
submitted, noting that Gwynedd was currently in the middle of a housing crisis.
It was stated that the Council had been attempting to raise awareness about the
problem and had asked both Governments to take action. It was noted that the
department was endeavouring to find answers within its ability and to take
action. It was highlighted that this scheme was part of the Housing Action Plan
and that it was an example of what the department sought to do to assist
residents. It was noted that it was a pleasure to submit the scheme as it was a
positive and innovative scheme and found ways of housing residents.
The Head of Housing
and Property Department added that the scheme was part of the Housing Action
Plan. The purpose of the scheme was
highlighted, namely to purchase one hundred houses to renovate and let out to
residents. It was noted that the investment in the Housing Action Plan was
approximately £77m and the combination of funding sources was noted. It was
stated that the Cabinet had highlighted its ambition for the scheme by noting
its desire for a loan scheme for this scheme in accordance with a robust
business plan. It was noted that the report noted the costs and its funding
method and showed that it was a viable scheme. It was explained that risks were
being highlighted but that a business case for each individual purchase would
reduce the risks, and that the individual purchases would not be made if risks
were too high.
Observations
arising from the discussion
¾ Gratitude
was expressed for the report and pride was highlighted in turning back the
clock to see the Council investing once again in housing for Gwynedd residents.
It was asked whether or not there was a difference between housing on the open
market and former social housing. It was stated that it was difficult to purchase
former social housing and, therefore, there was a need to be operational in
getting social housing back within the Council.
¾
The scheme was welcomed and it was enquired
whether or not it would be possible to tailor the scheme for specific families.
It was noted that there was a need for rented housing within the county and
that a range of housing was required for people who needed support but it would
obviously have to be prioritised.
Awdur: Dafydd Gibbard