Decision details
Utilising funding received from the Local Authority Housing Fund LAHF Round 3 - to approve the completion of a house purchase
PDF 96 KBDecision Maker: Corporate Director
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Decision:
Following cabinet approvals on 20 February 2023 and 17 July which authorised approval to purchase properties utilising LAHF grant received.
This officer decision notice is to record the decision to complete the purchase of the 2-bedroom end of terrace house at 3F Upwell Road, March
The purchase of this property as part of the LAHF programme in accordance with cabinet approvals at a purchase price of £165,000.
Reasons for the decision:
I am permitting that we buy this property for the purchase price of £165,000 for the following reasons:
· Grant funding under LAHF 3 will contribute an anticipated 58% towards total acquisition costs, the grant funding for this property is estimated to be £102,715:
· I have looked at the documentation supplied as part of the sale including:
o Valuation Report.
o Investment Board Approval
o Solicitor’s Report,
o Form of contract
o Form of Transfer
· I am satisfied that the purchase falls within the remit of what cabinet approved including:
o It is within the financial thresholds of the confidential appendix.
o The signed LAHF MOU with Government
o The location of the property
o The view of Investment Board
Alternative options considered:
N/A
Publication date: 29/04/2025
Date of decision: 29/04/2025