Agenda item

(a)  That the progress made in the implementation of the Local Authority Partnership Purchase Scheme be noted.

(b)  That the scoring mechanism for applicants included at Appendix A to the report be noted.

A report was considered that updated the Cabinet on the progress on implementing the Local Authority Partnership Purchase (LAPP) scheme which was designed to help people purchase a property in Slough on the open market with the assistance of the Council.

The adoption of such as scheme was agreed by Cabinet and the Council in September 2015 and a total of £9.5m over two years had been allocated in the Capital Strategy.  It was envisaged that the investment would deliver financial benefits to the Council as well as help people, including key workers, own their own home and relieve some of the pressures in the private rented sector.  Significant progress had been made to implement the scheme and three financial institutions had committed to the scheme – TSB, Halifax and Nationwide Building Society.  It was anticipated that the scheme would be open to applications from late May/early June for a restricted period to gauge the level of interest and the process would be reviewed accordingly after ten successful applications.  The Cabinet welcomed the progress that had been made and looked forward to the scheme helping people get onto the housing ladder.

Resolved –

(a)  That the progress made in the implementation of the Local Authority Partnership Purchase Scheme be noted.

(b)  That the scoring mechanism for applicants included at Appendix A to the report be noted.