Decision status: Recommendations Approved
To present an updated Acquisition Strategy for approval, which sets out the principles, approach and governance for the acquisitions element of the Stock Increase Programme.
(a) the Acquisition Strategy attached to the report at Appendix 1 is approved for immediate implementation;
(b) the amendment to the Council’s Allocations Policy to enable owners to sell their properties to the Council and remain as secure tenants and to enable landlords to sell their apartments to the Council with a small proportion of sitting tenants, as set out at Appendix 2 to the report, is agreed; and
(c) the Allocations Policy amendment be implemented with immediate effect.
The alternative option is choosing not to update the acquisition strategy. Opportunities for acquisitions would be appraised based on the 2015 strategy which is informed by out of date evidence. The strategic priorities are also outdated.
The strategy would not cover new build properties, land acquisitions or acquisitions for specialist provision. These would be assessed on separate principles and guidance.
Publication date: 29/03/2021
Date of decision: 29/03/2021
Effective from: 07/04/2021