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On 8 November 2022, Cabinet:-
(i) Approved, subject to due diligence in relation to affordability of the confirmed total costs, and not exposing risks to the HRA for financial resilience, delegating to the S151 Officer, in consultation with the relevant Cabinet Members (The Leader, Cabinet Member for Housing and Homelessness and Cabinet Member for Finance and Resources) the following:
(a) an application for SHDF Wave 2 funding of up to £23.3m;
(b) the use of HRA revenue to fund additional Capital borrowing up to £99.0m as required, in addition to existing planned investment, making up the required match funding of £129.3m;
(ii) Delegated authority to the Strategic Director of City Housing to receive any awarded grant and take decisions as required regarding the identification of appropriate areas for delivery and profiling and tenure split of grant monies based on the proposals submitted to the Department of Business, Energy and Industrial Strategy (BEIS);
(iii) Delegated Authority to Strategic Director City Housing in conjunction with the Director of Council Management (or their delegate) to make further bids to SHDF or related government grant funding for the delivery of retro fit interventions;
(iv) Authorised the City Solicitor (or delegate) to negotiate, execute and complete all necessary legal documentation to give effect to the above recommendations.
THE DEADLINE FOR CALL IN IS 1600 HOURS ON MONDAY 14 NOVEMBER 2022.
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