Issue - meetings

The Cabinet considered a report on the Government’s Homebuy Scheme which was operated in Worcestershire by the West Mercia Housing Group. The scheme allowed for the provision of a grant subsidy in the form of an equity loan to allow first time buyers to purchase a property on the open market at 75% of market value. There was a limited amount of funding from Central Government to support this scheme. There was an opportunity for the Council to participate in the Scheme by utilising funding from the Strategic Housing Capital Programme which had not been allocated for new build shared ownership schemes, should there be applicants wishing to take up the scheme after the Government funding had been exhausted. Following discussion, it was

RESOLVED:

(a) that the Bromsgrove Homebuy Scheme be approved in principle, provided

     there is funding remaining within the Strategic Housing Capital Programme

     and there is a demand from applicants within the District after Government

     funding has been utilised; and

(b)that delegated authority be granted to the Head of Planning and

     Environment Services and the Section 151 Officer in consultation with the

     Portfolio Holder for Strategic Housing to determine specific applications.