Issue - meetings

To consider a joint report of the Executive Councillors (Supporting Communities) and (Policy, Reform and Finance)

This report provides details on the new Right to Buy regime and the requirement for Local Authorities to enter into an agreement with the Secretary of State to retain in Stockport the potential additional receipts that may arise from the new regime. The report seeks the agreement of the Executive to enter into the agreement with the Secretary of State.

The Executive is asked to:

•        Note the report; and,

•        Agree that the Council enters into an agreement with the Secretary of State to retain in Stockport the potential additional receipts that may arise from the new Right to Buy regime.

Officer contact: Paul Lawrence/ Michael Cullen, 0161 474 4515/ 4631, paul.lawrence@stockport.gov.uk / michael.cullen@stockport.gov.uk

The Executive Councillor (Supporting Communities) submitted a report (copies of the which had been circulated) inviting the Executive Meeting to agree to enter into an agreement with the Secretary of State for Communities and Local Government to retain receipts from Right to Buy purchases of Council housing in order to fund replacement housing stock. The new Right to Buy regime had been announced in March 2012 and required local authorities to enter into such an agreement otherwise the receipts would be passed to the Homes and Communities Agency and thereby limit the Council’s ability to deliver more affordable homes in the borough.

Executive councillors commented that although the proposed agreement would not be on favourable terms for the Council, to do other than enter into the agreement would risk the delivery of new affordable homes in Stockport.

RESOLVED – That approval be given to the Council entering into an agreement with the Secretary of State for Communities and Local Government to retain in Stockport the potential additional receipts that may arise from the new Right to Buy regime.