The Director of Resources & Housing:
a) Approved the establishment of a new programme of off the shelf, new build property acquisitions, with an initial target of purchasing 150 homes from a range of partners over the next 3 years, and approve the proposed investment of £30m.
b) Granted authority to complete on the purchases, and Authority to Spend, in relation to the first batch of 21 acquisitions in Killingbeck and Seacroft ward. A breakdown of these costs and the terms of the acquisitions are detailed in Confidential Appendix A for commercial reasons.
c) Delegated decisions to acquire future batches of properties, and to authorise any variations to the terms of the acquisition in relation to the initial batch, to the Director of City Development.
d) Supported the use of retained right to buy receipts and/ or any funding bids required to optimise the funding mix for each batch of acquisitions and noted that decisions about the specific funding mix for each batch of properties, and Authority to Spend for the same, will rest with the Director of Resources and Housing (as per the recommendation of Executive Board members outlined at para 4.1.8).