1.  That agreement be given to broaden category b) for prudential borrowing for the purpose of property investment as approved previously by Cabinet in September 2012 as follows:

“b)  Residential property including derelict and long term empty property, in order to restore and bring them back into use and property suitable for use as temporary accommodation, in order to reduce reliance upon bed and breakfast accommodation.”

2.  That the inclusion within the assessment of the business case of the benefits gained from real terms cost reductions as well as the income generated directly by the investment property be agreed.

DECISION MADE:

1.  That agreement be given to broaden category b) for prudential borrowing for the purpose of property investment as approved previously by Cabinet in September 2012 as follows:

“b)  Residential property including derelict and long term empty property, in order to restore and bring them back into use and property suitable for use as temporary accommodation, in order to reduce reliance upon bed and breakfast accommodation.”

2.  That the inclusion within the assessment of the business case of the benefits gained from real terms cost reductions as well as the income generated directly by the investment property be agreed.

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