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: firstname.lastname@example.org Tel: 02079267020.