The Cabinet approved the Property Acquisition Programme.

Cabinet was presented with the Private Property Acquisition Programme (PPAP).

Report was introduced by Councillor Paul McGeary, Cabinet Member for Housing

The report describes the principles and structure of the proposed contractual arrangement with the REIT and MLH for the acquisition and letting of properties, together with the reasoning for supporting its implementation, and sets out specific Housing Services property requirements associated rental rates.

The proposed course of action is part of wider strategic response to ensure sufficient accommodation for the residents of the borough. The current proposal is to seek to acquire up to 150 properties, any increase in the number of properties should be considered as part of a wider strategic approach.

Cabinet noted the principles and structure of the proposed contractual arrangement for the acquisition and letting of properties, together with the reasoning supporting its implementation, as described in the report;

Cabinet agreed to delegate to the Director of Housing in consultation with the Lead Portfolio Holder for Housing, the authority to negotiate the detailed terms of, and the authority to agree that the Council enters into, an Agreement for Lease (or a broadly equivalent contractual instrument with the same commercial effect) with the REIT (and any necessary ancillary agreements);

Cabinet agreed to delegate to Service Director Housing in consultation with the Section 151 officer, the Lead Portfolio Holder for Housing, the authority to negotiate the detailed terms of, and the authority to agree that the Council enters into, an Agreement for underlease (or a broadly equivalent contractual instrument with the same commercial effect) with MLH (and any necessary ancillary agreements).