Having considered an officer report, and a presentation by the Cabinet
Member for Housing, Councillor Damien Egan, the Mayor agreed that:
(i) the rationale for allowing Phoenix Community Housing to retain Right to
Buy receipts for sales in its stock in light of the changing housing context and
to enable it to develop new affordable homes be noted;
(ii) the increase the number of new homes in the borough, and especially in
the Bellingham, Downham and Whitefoot wards, and that the Council will
have the right to nominate tenants to the new properties be noted;
(iii) the Council waives its right to any payments of Right to Buy receipts
due to it under the Transfer Contract between the Council and Phoenix
Community Housing from 1 April 2016, subject to any conditions agreed by
the Council and Phoenix Community Housing.
(iv) authority be delegated to the Executive Director for Resources and
Regeneration on the advice of the Head of Law to finalise the terms of the
waiver.