Decision details

Report sets out financial compensation and rehousing options for leaseholders in housing renewal areas where the council wants to acquire their properties in order to regeneration to go ahead.

1.         That the Cabinet Member for Finance, Property and Regeneration agreed the Policy for Leaseholders in Housing Renewal Areas August2018 as set out in Appendix B of the report and noted that it replaces the Policy for Leaseholders in Housing Renewal Areas (Updated January 2017).

2.         That the Cabinet Member for Finance, Property and Regeneration agreed that the Policy for Leaseholders in Housing Renewal Areas August 2018 as set out in Appendix B be applied to current and future designated housing renewal areas.

3.         That the Cabinet Member for Finance, Property and Regeneration delegated authority to the Director responsible for Regeneration, in conjunction with the Cabinet Member, to decide when the Policy should be implemented. 

4.         That in order to implement the Policy, the Cabinet Member for Finance, Property and Regeneration  delegated authority to the Director responsible for Regeneration, or any other person duly delegated by them, to enter into individual equity loan agreements with leaseholders, where it has been agreed they can buy one of the new build properties in one of the housing renewal areas with an equity loan.

5.         That in order to implement the Policy, the Cabinet Member for Finance, Property and Regeneration delegated authority to the  Director responsible for Regeneration, or any other person duly delegated by them, to enter into shared equity or shared ownership leases or arrangements with leaseholders, where it has been agreed they can buy one of the new build properties, in one of the housing renewal areas, on a shared equity basis, or as a shared owner.

Reasons for Decision 

1.            A Policy for Leaseholders in Housing Renewal Areas is needed in order to set out the Council’s rehousing offer to leaseholders in housing renewal areas, where their homes are identified for acquisition, as a result of housing renewal. Vacant possession of these properties is needed in order to proceed with the housing renewal programme.

2.            An updated Policy is needed, in order to take into account of the changing nature of the housing renewal programme, to respond to ongoing feedback from leaseholders about the current Policy and in light of the changing external policy environment.