Decision details

The Leader of the Council delegated authority to the Cabinet to make the following decisions:

RESOLVED: To

1.    Approve the borrowing facility of up to £30.6m to enable the investment in the acquisition of 165 new homes from Brick by Brick Croydon (Limited) (‘Brick by Brick’) to be let at council rents  

2.    Approve the use of up to £8.04m Right to Buy Receipts to reduce the level of borrowing required 

3.    Agree to the propose that the rental levels for the properties held within the HRA to be charged on a formula rent basis  

4.    Delegate to the Deputy Leader and Cabinet Member for Homes and Gateway Services in consultation with the Cabinet Member for Finance and Resources the authority to approve of the purchase of affordable rented units constructed by Brick by Brick as council homes 

5.    Note the proposed purchase of additional Brick by Brick homes for use as Emergency Temporary Accommodation in line with the Cabinet decision taken in March 2020 under the Increasing Housing Supply paper.