Having considered an open and a confidential officer report, and a
presentation by the Mayor, the Mayor and Cabinet agreed that:
(1) the purchase of up to 100 homes to let as London Affordable Rented
homes be approved utilising right to buy receipts and Housing Revenue
Account borrowing and to note that if GLA Right to Buyback grant is secured
this will replace the use of Right to Buy receipts;
(2) the purchase of up to 20 four bed homes for the Afghan Refugee
programme be approved utilising GLA Right to Buyback grant and General
Fund Borrowing, subject to securing GLA grant and the costs being contained
within the programme budget;
(3) authority be delegated to the Director of Inclusive Regeneration to approve
the purchase of individual properties, and associated administrative,
refurbishment or alteration/extension works costs for the Buyback Programme
subject to the costs being contained within the programme budget;
(4) authority be delegated to the Executive Director for Housing, Regeneration
& Public Realm in consultation with the Executive Director for Corporate
Resources and Director of Law, Governance and Elections to bid for and
accept any local, regional or national financial grants to support the delivery of
the Buyback Programme;
(5) all properties acquired under the Buyback Programme will be added to
and managed by Lewisham Homes under the existing Management
Agreement;
(6) a stated budget from Housing Revenue Account (HRA) borrowing to
match fund Right to Buy (RtB) receipts of up to a stated sum be approved for
the 100 home buyback programme. The use of HRA borrowing and/or RtB
Receipts will reduce if GLA grant is awarded to support this Buyback
Programme; and
(7) a stated budget of General Fund borrowing for the 20 home Afghan
Refugee buyback programme be approved match funding GLA grant. If the
GLA grant is not awarded, for this element of the programme, the 20 larger
homes for families from Afghanistan, will be omitted from the programme
owing to prohibitive financial viability.