Issue - meetings

To consider the report of the Director of Environment and Neighbourhoods proposing a financial model which would allow Leeds City Council to consider unsupported borrowing to provide equity loans to vulnerable households.

The Director of Environment and Neighbourhoods submitted a report outlining proposals regarding a financial model which would enable Leeds City Council to deliver unsupported borrowing for the provision of equity loans to vulnerable households.

The report provided details of the Equality, Diversity and Community Cohesion Impact (EDCI) screening form which had been completed in respect of this matter.

RESOLVED -  That approval be given to the proposal to introduce an equity release loans scheme for vulnerable home owners, funded through unsupported borrowing, with the redeemed Leeds Loans used to subsidise costs, up to a limit of £500,000 per annum based upon the model set out within the submitted report for up to the next 4 years, subject to annual review of the scheme, in order to minimise the risk to the Council.