This report seeks endorsement of a decision to accept funding provided by the Department of Levelling up, Housing and Communities to purchase 15 homes to be made available initially to Afghan and Ukrainian refugees and in the longer term to be used as General Needs Social Housing, as well as spend approval and match funding for the scheme.

The Executive Director of Economic Growth & Neighbourhoods submitted a report on a proposal to purchase 15 homes, using funding provided by the Department of Levelling Up, Housing and Communities (DLUHC), which would initially be made available to Afghan and Ukrainian refugees, and in the longer term be used as General Needs Social Housing.  The report set out the total spend approval required to deliver the scheme, which included match funding of £3m from the Council.

Additionally, the report sought agreement to endorse retrospectively the Memorandum of Understanding, which had been signed by the Director of Finance to deliver 15 homes for the purpose set out above by the end of March 2024, in return for Government grant as set out in the table at paragraph 4.2.3 of the report.  Due to the short timescale, it was proposed that the mechanism to deliver the scheme would be to purchase additional properties from the open market. 

Resolved –

(1)       That the signing by the Director of Finance of the Memorandum of Understanding between Reading Borough Council and DLUHC to receive an award of grant totalling £2,164,331 to purchase 15 homes, initially for Afghan and Ukrainian refugees, and in the longer term to be used as General Needs Social Housing, as described in more detail in the report, be endorsed;

(2)       That the budget of £3m to match fund the grant, funded through a combination of S106 contributions and Housing Revenue Account borrowing be approved;

(3)       That the total spend of £5.5m to purchase 15 homes, as set out in the body of the report, be approved.