Decisions for issue Implementation of a Principal Residence Policy
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Implementation of a Principal Residence Policy
1. That Committee noted the policy option analysis in paragraphs 3.18 – 3.22 and the recommendation for a combination of Options 2 and 3 for further consideration during the city plan review, as well as the possibility of a citywide Principal Residence Policy. All options will remain under investigation subject to the results of the 2021 Census and further analysis of up-to-date statistics.
2. That Committee further noted that the Notice of Motion as passed at Full Council intended the Principal Residence Policy to cover all buyers purchasing properties in new developments specifically as holiday or 2nd homes and that the 15%-20% threshold discussed should therefore include these figures.
2.That Committee agreed to officers undertaking further actions set out in the report at paragraphs 3.8 in terms of further research and analysis as part of the City Plan Part 1 Review.