Issue details

Social Investment Property Fund – Temporary Accommodation

To invest £15m into a Social Investment Property fund for the purpose of providing a more affordable/cost effective form of temporary accommodation. The investment will be for a term of 7 years and allow the council nomination rights to approximately 47 units in order to discharge the council’s statutory homeless duty. This will in turn deliver savings to the council over the term as well as an expected return on the investment over the same period of approximately £5m.

Decision type: Key

Reason Key: 2. Financial;

Decision status: Recommendations Approved

Wards affected: (All Wards);

Notice of proposed decision first published: 23/09/2016

Decision due: 15 Dec 2016 by Deputy Leader of the Council (Planning, Investment and New Homes)

Lead director: Strategic Director: Neighbourhoods and Growth

Department: Neighbourhoods & Growth

Contact: Mandy Green, Assistant Director, Homes and Communities Email: Tel: 02079267020.