Issue details

The Cabinet Member, in consultation with the Leader of the Council and Deputy Mayor of the Cambridgeshire and Peterborough Combined Authority:

1.  Approved the purchase of up to 50 homes from the open market inside and nearby Peterborough to a total value of £10m, funded from the Invest to Save Budget, to provide temporary accommodation and homes for affordable rent to meet demand from homeless households in the Peterborough administrative area.

2.    Delegated to the Director of Law and Governance the authority to finalise and put in place any agreements and legal documentation needed to give effect to these proposals, in consultation with the Corporate Director of Growth and Regeneration and the Acting Corporate Director, Resources.

3.    Delegated to the Director of Growth and Regeneration the authority to spend up to a total acquisition cost of £500k per property (in respect of this programme only) including stamp duty, professional fees and disbursements, subject to the requirements and processes set out in the business case attached as an appendix to this report.

Appendix 1 is NOT FOR PUBLICATION in accordance with paragraph (s) 3 of Schedule 12A of Part 1 of the Local Government Act 1972 in that it contains commercially sensitive information relating to the business affairs of the Council. The public interest test has been applied to the information contained within the exempt annex and it is considered that the need to retain the information as exempt outweighs the public interest in disclosing it.