Issue - meetings

To submit a report by the Head of Housing Services.

It was RESOLVED to approve the policy for the implementation of the following two schemes to be funded from the Council Tax premium which will be raised on second homes and empty homes on the Isle of Anglesey from April 2017 :-

·           a grant to help first time buyers to purchase and renovate an empty homes;

·           an equity loans to help first time buyers.

The report of the Head of Housing Services seeking approval of a Policy on Equity loans for first time buyers and empty homes grants financed thorough the Empty Homes and Second Homes Council Tax premium was presented to the Executive for consideration.

The Portfolio Holder (Housing & Social Services) said these two schemes will use part of the additional revenue of £170k funded from the Council Tax premium which will be raised on second homes and empty homes on the Island from April 2017.  The policy will be operational in the specified communities listed within the report which have the highest numbers of second homes and/or the lowest numbers of homes at lower quartile house prices. 

The Head of Function (Resources)/Section 151 Officer said that the risk associated with this scheme is that it will be uncertain as to the level of income that will be generated from the collection of Council Tax premium raised on second homes and empty homes as this is the first year of the scheme.  He noted that owners of second homes and empty homes may be spurred into taking action to rent out their properties when they receive higher Council Tax premiums; the level of income from the scheme may decrease due to the action taken by the owners of the second and empty homes.     

It was RESOLVED to approve the policy for the implementation of the following two schemes to be funded from the Council Tax premium which will be raised on second homes and empty homes on the Isle of Anglesey from April 2017 :-

·           a grant to help first time buyers to purchase and renovate an empty homes;

·           an equity loans to help first time buyers.