Issue - meetings

Shared Ownership Strategy

Additional documents:

Decision:

Having considered an open officer report, and a presentation by the Mayor,

the Mayor and Cabinet agreed that:

(1) Lewisham Council become a provider of Shared Ownership homes within

the London Borough of Lewisham;

(2) the proposed Shared Ownership Policy set out at Section 5 be approved;

(3) the process of marketing, sale and management of Shared Ownership

homes to facilitate existing programmes through Lewisham Homes be

approved;

(4) authority be delegated to the Executive Director for Housing, Regeneration

and Public Realm in consultation with the Director of Legal, Corporate

Governance and Elections, to agree a variation to the Council’s Management

Agreement with Lewisham Homes to appoint Lewisham Homes as the

Council’s sales and marketing agent for all the Council’s Shared Ownership

homes and to provide all necessary management services in this respect;

(5) authority be delegated to the Director of Inclusive Regeneration, in

consultation with the Director of Law, Corporate Governance & Elections,

authority to agree terms for the sale of the Shared Ownership homes

developed through the Building for Lewisham programme, subject to a RICS

valuation and the sales being in conformity with GLA funding, including all

subsequent staircasing sales. This decision is dependent on Mayor and

Cabinet accepting GLA AHP grant funding in the 2021-2026 Programme

which is being considered by separate report on 3rd November 2021;

(6) GLA AHP 2021-2026 grant be applied, if accepted by Mayor and Cabinet

by separate report on the 3 November 2021 to 171 Shared Ownership homes

and that Right to Buy Receipts be applied to the remaining Shared Ownership

homes in the Building for Lewisham programme where GLA funding is

unavailable with this application and any subsequent reallocation of these

funds be delegated to the Executive Director for Housing, Regeneration and

Public Realm; and

(7) authority be delegated to the Director of Inclusive Regeneration the ability

to vary the rent on the unsold equity of these Shared Ownership homes, if

necessary, to make them more affordable but within agreed viability

assumptions.

Minutes:

Having considered an open officer report, and a presentation by the Mayor,

the Mayor and Cabinet for the reasons set out in the report and by a vote of

6-0:

RESOLVED that: