Affordable Housing Gateway: Revision of Deferred Payment Sales Process: Approval

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A decision made 17 June 2013:

Decision Reference: MD-H-2013-0043
Decision Summary Title :	DS – Revision of Deferred Payment Sales Process		Date of Decision Summary:	11th June 2013
Decision Summary Author:	Director of Strategy		Decision Summary: Public or Exempt? (State clauses from Code of Practice booklet)	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title :	Revision of Deferred Payment Process		Date of Written Report:	11th June 2013
Written Report Author:	Director of Strategy		Written Report : Public or Exempt? (State clauses from Code of Practice booklet)	Public
Subject: To approve changes to the process for the sale of properties where a deferred payment is provided to purchasers
Decision(s): The Minister agreed; that deferred payment sales should continue at an average rate of 15 sales per annum, as a means of providing continued funding for the refurbishment and new build programme and as a means of continuing to realign the stock. that homes may be sold to anyone (other than existing or previous home owners) registered with the Affordable Housing Gateway irrespective of whether or not they are an existing social housing tenant. that the existing maximum 25% deferred payment continues to be made available on a means tested basis according to the particular circumstances of the buyer(s). that all sales continue to be passed for approval to the Minister for Treasury & Resources in accordance with Standing Order 168. that all properties sold be retained within the Affordable Housing market by contractual provisions which restrict onward sales to Affordable Housing Gateway qualifiers or other such restriction introduced by the Minister through the auspices of the Strategic Housing Unit. that the income from all sales continues to be applied to the Housing Department’s rolling vote HYR000 for use in refurbishing the stock or in developing new homes. the contents of Policy HD20 and HD42. to seek the approval of the Minister for Treasury & Resources to the change in Policy
Reason(s) for Decision: To ensure that the homes for sale with a deferred payment are available to appropriate applicants who would not be able to purchase a home unassisted and that income arising from sales is reinvested in the social Housing stock.
Resource Implications: NIL
Action required: Finance Director to oversee seeking the approval of the Minister for Treasury & Resources
Signature:		Position: HOUSING MINISTER
Date Signed:		Date of Decision (If different from Date Signed):