Agenda item - Use of Right to Buy receipts for appropriation of properties to the HRA and grant to Homes for Brighton & Hove Limited Liability Partnership (LLP)

Report of the Executive Director Neighbourhoods, Communities & Housing and Executive Director Economy, Environment & Culture (copy attached)

RESOLVED: That the Committee -

(i)            Noted that the following decisions have been taken by the Executive Director Neighbourhoods, Communities & Housing:

·     appropriate Flat 1 Greenleas, Hangleton Valley Drive and The Bungalow, Drove Road Portslade from the General Fund to the HRA;

·          to make a transfer from the HRA of £0.548m to the General  Fund in consideration for the appropriation referred to above;

·     to make a grant of £0.223m to the LLP.

(ii)          Agreed that the general fund wpuld receive £0.112m less RTB receipts in 2019/20, therefore increasing the receipts available for use by the HRA.

14.1    The Committee considered the report of the Executive Director for Neighbourhoods, Communities and Housing regarding the forecasted underspend in the use of Right to Buy receipts for the final quarter of 2018/19.

14.2    Councillor Mears noted that the deadline for spending the Right to Buy receipts was close, and that this was a good use of the money.

14.3    Councillor Hugh-Jones welcomed the way the Executive Director had used her emergency powers to use the money.

14.4    RESOLVED: That the Committee -

(i)            Noted that the following decisions have been taken by the Executive Director Neighbourhoods, Communities & Housing:

·     appropriate Flat 1 Greenleas, Hangleton Valley Drive and The Bungalow, Drove Road Portslade from the General Fund to the HRA;

·          to make a transfer from the HRA of £0.548m to the General  Fund in consideration for the appropriation referred to above;

·     to make a grant of £0.223m to the LLP.

(ii)          Agreed that the general fund wpuld receive £0.112m less RTB receipts in 2019/20, therefore increasing the receipts available for use by the HRA.