Issue - meetings

To consider a report of the Cabinet Member for Sustainable Stockport.

The report outlines to Cabinet ways in which the Council can continue to maximise the provision of new, affordable housing within the Borough and seeks Cabinet approval to extend the existing rolling loan facility to Stockport Homes to enable development through Viaduct Housing Partnership by £14.9m, from £77m to £91.9m, to continue to enable significant affordable homes to be developed and built up to 2024/25.

The Cabinet are recommended to approve the extension of the existing rolling loan facility to Stockport Homes to enable development through Viaduct Housing Partnership by £14.9m, from £77m to £91.9m, to continue to enable significant affordable homes to be developed and built up to 2024/25,with the option to utilise where appropriate and prudent for market sale and market rent.

Officer Contact: Andy Kippax on 0161 474 4319 or email: andy.kippax@stockport.gov.uk

The Cabinet Member for Sustainable Stockport submitted a report (copies of which had been circulated) detailing a proposal for the Council to continue to maximise the provision of new, affordable housing within the Borough and seeking Cabinet approval to extend the existing rolling loan facility to Stockport Homes to enable development through Viaduct Housing Partnership by £14.9m, from £77m to £91.9m, to continue to enable significant affordable homes to be developed and built up to 2024/25.

The Cabinet Member stated that the scheme had so far enabled over 1000 families to live in properties that they might otherwise not have been able to.  It was reported that an average of 210 properties a year were being delivered, it was hoped that the extension of the loan facility would enable the provision of even more new homes over the course of the next five years.

RESOLVED – That approval be given to the extension of the existing rolling loan facility to Stockport Homes to enable development through Viaduct Housing Partnership by £14.9m, from £77m to £91.9m, to continue to enable significant affordable homes to be developed and built up to 2024/25, with the option to utilise, where appropriate and prudent, for market sale and market rent.

To consider a joint report of the Corporate Director for Place Management and Regeneration and the Corporate Director for Corporate & Support Services.

The report provides an update on ways in which the Council can continue to maximise the provision of new, affordable housing within the Borough; and seeks Cabinet approval to extend the existing rolling loan facility to Stockport Homes to enable development through Viaduct Housing Partnership by £14.9m, from £77m to £91.9m, to continue to enable significant affordable homes to be developed and built up to 2024/25.

The Scrutiny Committee is recommended to comment on and note the report.

Officer contact: Andy Kippax 0161 474 4319 or e-mail: andy.kippax@stockport.gov.uk

The Corporate Director for Place Management and Regeneration submitted a joint report of Corporate Directors for Place Management and Regeneration and for Corporate and Support Services (copies of which had been circulated) detailing a proposal to extend the existing rolling loan facility to Stockport Homes to enable development through Viaduct Housing Partnership by £14.9m, from £77m to £91.9m, to continue to enable significant affordable homes to be developed and built up to 2024/25.

The Cabinet Member for Sustainable Stockport (Councillor Sheila Bailey) attended the meeting to respond to councillors’ questions.

The level of return on the capital investment in housing stock was queried as any new homes built may be subject to the ‘Right to Buy’. In response, it was stated that any new homes built would be owned by Stockport Homes in their own name, and as such would not be subject to the ‘Right to Buy’ but instead would be available for purchase by tenants under a ‘Right to Acquire’.  However, as the discounts on such acquisitions were not as big as under the Right to Buy, no homes had yet been lost through this route.

RESOLVED – That the report be noted.