Issue - meetings

Creation of Capital Property Purchase Fund

Meeting: 21/08/2018 - Shadow Executive Committee (Item 39)

39 Creation of Capital Property Purchase Fund pdf icon PDF 75 KB

To consider a report by the Leader of Purbeck District Council.

Minutes:

The Committee considered a report by the Leader of Purbeck District Council on the formation of a capital property purchase fund for the purchase of houses to help meet the housing needs of the community, noting that the beneficiaries for the Dorset Council would be the residents of Dorset and not only the residents of Purbeck as part of its Housing Strategy.

 

The consideration of Dorset County Council properties to help achieve the aims of the fund was raised as exploration of sites could open opportunities to convert buildings for future housing use.  It was noted that this could be explored as part of the housing approach and the fund could be used for this.

 

Members discussed the financial considerations needed when making decisions at sovereign councils as the budget of Dorset Council would be modelled differently to councils and could therefore have different interest implications if funded through borrowing.  It was agreed that the concurrent view of Section 151 Officers should be incorporated into this type of report in future to give a steer on the financial impact and viability of the proposal in the wider Dorset Council financial strategy.  The Interim Section 151 Officer confirmed that the proposal was acceptable.

 

Decision

That the recommendations detailed within the report, to be decided upon by Purbeck District Council, be supported.