Issue - meetings
Shared Ownership Allocations Policy
Meeting: 29/02/2024 - Cabinet (Item 75)
75 Shared Ownership Allocations Policy 
PDF 293 KB
Report of Councillor N Barker, Leader of the Council and Portfolio Holder for Strategic Leadership & Finance.
Additional documents:
Decision:
RESOLVED
That the revised Shared Ownership Allocations Policy is approved.
REASONS FOR DECISION
The previous Shared Ownership Policy has now expired, and a revised Policy needs to be put in place.
OTHER OPTIONS CONSIDERED BUT REJECTED
The option of not revising the Policy was considered but rejected as the revised Policy gives clear procedures on how Council owned shared properties are sold. It also sets out the Council’s stance on building or acquiring this type of tenure in the future for inclusion in the Council Housing Stock.
Please note that this was not a Key Decision and so can be implemented with immediate effect by officers
Minutes:
Cabinet was asked to approve and adopt the proposed new Shared Ownership Allocations Policy. The existing policy, it was explained, had now expired and a renewed Policy would have to be put in place.
Members discussed the proposed Policy. Cabinet reflected on the experience of shared ownership schemes in the District and the limited impact which they had had in terms of extending home ownership. Members welcomed the proposed Policy, which would ensure that the Council’s existing Shared Ownership properties were offered for sale in a clear, fair, and transparent manner. They also noted how the Council was not currently seeking to build any new properties for Shared Ownership unless this was seen as the only option to ensure viability and progression of a housing development scheme.
RESOLVED
That the revised Shared Ownership Allocations Policy is approved.
REASONS FOR DECISION
The previous Shared Ownership Policy has now expired, and a revised Policy needs to be put in place.
OTHER OPTIONS CONSIDERED BUT REJECTED
The option of not revising the Policy was considered but rejected as the revised Policy gives clear procedures on how Council owned shared properties are sold. It also sets out the Council’s stance on building or acquiring this type of tenure in the future for inclusion in the Council Housing Stock.