Decision details

Utilising Funding received from the Local Authority Housing Fund LAHF Round 1 & 2 - to approve the completion of 4 house purchases - each are 3 bedroom properties

Decision Maker: Assistant Director

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Decision:

The purchase of 4 properties as part of the LAHF programme in accordance with cabinet approvals (CAB68/22 and CAB17/23) at a total purchase price of £932,000.

 

Decision to be taken:

 

Following cabinet approvals on the 20th February 2023 and 17th July 2023 which authorised approval to purchase properties utilising LAHF grant received.

 

This officer decision notice is to record the decision to complete 4 house purchases at Whittlesey Fields development Whittlesey (Taylor Wimpey).

Reasons for the decision:

I am permitting that we buy the properties at:

 

Whittlesey Fields development, Eastrea Road, Whittlesey:

 

LAHF Round 1:

 

  • Plot 45 for the purchase price of £233,000
  • Plot 48 for the purchase price of £233,000

 

LAHF Round 2:

 

  • Plot 56 for the purchase price of £233,000
  • Plot 126 for the purchase price of £233,000

with an estimated grant of £396,024 (R1 = £176,000 and R2 = £220,024) towards these purchases and related costs for the following reasons:

 

·         I have looked at the documentation supplied as part of the sale including:

o   Memorandum of Sale,

o   Valuation Report.

o   Solicitor’s Report and contract to be confirmed satisfactory prior to exchange of contracts

 

·         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:

Not applicable.

Publication date: 22/11/2023

Date of decision: 22/11/2023

Effective from: 30/11/2023