Decision details

That the Executive approve the Council/Stockport Homes to enter into a contract with the HCA to deliver affordable housing.

The Executive Meeting has given approval to:-

·         the Council entering into the Homes and Communities Agency (HCA)  Affordable Homes Framework agreement, subject to a mechanism being put in place which allows the conversion of Council housing on re-let to affordable rents;

·         the Council entering into agreement with the Accent Group to deliver affordable homes;

·         the Council entering into an agreement with Stockport Homes to deliver and manage the new build development programme;

·         subject to the mechanism described in the report, a conversion cap of 282 properties (10 per cent of total relets) to be relet at 80% of market rent to facilitate building 56 homes, with the potential to build additional homes subject to additional HCA funding; relets at the affordable rent level to initially be limited to 5% to fund the 56 unit programme, with additional homes relet at 70% of market rent, subject to HCA agreement, up to the 10% cap, only being progressed if further funding from the HCA becomes available, and

·         a policy being developed in consultation with the Executive Councillor (Communities) to ensure that relets at an affordable rent be made in a fair and equitable manner.

None

None

·         Stockport Homes Board

·         Executive Councillor (Communities)

·         Homes & Communities Agency