This report seeks consideration of various issues regarding affordable housing funding from the following sources: Commuted Sums (Affordable Housing) and Community Housing Fund.

In accepting these recommendations, Cabinet will agree the expenditure proposals relating to commuted sums (affordable housing) as shown at 1.2.5 of the report; reduce the funds committed for the Housing Development Officer post by £5,504 to cover the full costs of the bids for commuted sums (affordable housing) funding; and agree the £75,000 expenditure relating to the Community Housing Fund as shown at 1.3.2 of the report.

The subject of the decision:

This report sought consideration of various issues regarding affordable housing funding from the following sources: Commuted Sums (Affordable Housing) and Community Housing Fund.

Alternative options considered:

None.

The reason for the decision:

To take account of the legal basis for each commuted sum which is detailed within section 106 agreements for each housing scheme.  Each agreement had specific wording (which varied agreement to agreement) which allowed for expenditure towards the cost of increasing affordable housing and, in some cases, improvement of affordable housing.

The decision:

That:-

(1)     the expenditure proposals relating to commuted sums (affordable housing) as shown at 1.2.5 of the report be agreed;

(2)     the funds committed for the Housing Development Officer post be reduced by £5,504 to cover the full costs of the bids for commuted sums (affordable housing) funding; and

(3)     the £75,000 expenditure relating to the Community Housing Fund as shown at 1.3.2 of the report be agreed.