Decision details

To purchase a property in Exeter from the General Fund, using available capital resources

To purchase a property in Exeter from the General Fund, using available capital resources

Section 19 of the Housing Act 1985 (‘the Act’) allows the council to appropriate land for purposes of Part 2 of the Act, ‘provision of housing accommodation.’

The property, a four bedroom house, will be transferred into the HRA portfolio and used for the purpose of accommodation larger families, where sized HRA stock properties are limited.

The certified value would ordinarily be added to the HRA’s capital financing requirement. However, the HRA is at the top end of its debt cap, making this unachievable, forcing the purchase of the property through available capital resources.

Transferring the property will enable the HRA to partially meet the demand for 4 bedroomed properties to offer to families who might normally remain on the Waiting/Transfer List for several years.