Decision details

The Cabinet Member for Housing:

(1)  noted the current difficulties that renters have in entering the private rented sector (PRS).

(2) considered the options for providing additional support to enter the PRS.  This may be either extending the range of support for those that already receive it, or new support for those that the council currently does not have a legal duty to support.  Officers recommend the widening of a bond scheme and the use of a community bank to provide low cost loans.

(3) Agreed to the officer's recommendation to proceed with extending the bond scheme and enabling a community bank to provide low-cost loans (Options 2 and 4). The Cabinet Member decided that the loans should be made available to residents interest-free, as outlined in option 4b. The Cabinet Member also agreed with the officer recommendations on eligibility and to adopt Scope 2, allowing those threatened with homelessness, not currently living in suitable self-contained accommodation or seeking a move into the private rented sector to benefit.

(4)       Delegated to the Director of Housing, Neighbourhoods and Building Services the authority to develop and operate a 12 month pilot of the chosen scheme(s) in order to fully develop a working scheme, understand the demand from residents, and expose the financial risk for the council, and that a review of the scheme's effectiveness and options for future development will be conducted and completed in the third quarter of the pilot to facilitate planning for the future.

(5) Agreed that funding for the operation and any financial liability incurred by the pilot comes from the Leader's portfolio reserve, in line with the Leader's constitutional obligation to tackle poverty in the city.