Decision - Affordable Housing Development Funding for Westminster Community Homes | Westminster City Council
Decision details

Decision - Affordable Housing Development Funding for Westminster Community Homes

Decision details

Affordable Housing Development Funding for Westminster Community Homes

Decision Maker: Cabinet Member for Housing

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

The allocation of funds from the Council's Affordable Housing Fund to Westminster Community Homes to deliver additional affordable housing for Westminster referrals.

Decision:

1.         That the financial background papers attached to this report be exempt from disclosure by virtue of the Local Government Act 1972, Schedule 12A, Part 1, paragraph 3, in that it contains information relating to the financial or business affairs of any particular person (including the authority holding that information).

 

2.            That the Cabinet Member for Housing approved;

 

2.1  A funding rate of £250k to be provided from the City Council’s Affordable Housing Fund towards future spot purchases secured by Westminster Community Homes in Westminster.

 

2.2  A further funding contribution of £2.610m to be provided from the City Council’s Affordable Housing Fund towards Westminster Community Homes to enable them to convert Ladbroke Grove from shared ownership to intermediate rent.

 

Reasons for Decision

 

1.         The provision of funding by the City Council towards Westminster Community Homes is assisting with the delivery of new affordable homes in the city and will also help with land assembly in those areas of the City were regeneration is planned.

2.         It is a permitted use of the Affordable Housing Fund to finance the delivery of new affordable housing in Westminster.

Publication date: 19/12/2017

Date of decision: 19/12/2017

Effective from: 29/12/2017

Accompanying Documents: