A plan to buy more properties for homeless families in Brent has been approved by the Cabinet.
The council-invested company i4B Holdings Ltd has drawn up a business plan that will see 600 homes purchased for private rental by April 2021. The project will support more residents with housing needs to find affordable, good quality homes in the private sector managed by a responsible landlord.
Cllr Harbi Farah, Cabinet Member for Housing and Welfare Reform, said: "This i4B development will provide more homes in Brent for residents with housing needs. We want to ensure that people have a decent standard of accommodation and a secure tenancy at a rent they can afford."
The aim is to double the 300 i4B homes agreed in the first phase of i4B's business plan in November 2016. Last night the Cabinet approved £116 million funds to purchase a further 300 private rented properties between September this year and April 2021.
The company has also outlined a case for the remaining properties agreed in the first phase of the plan to be purchased within Brent for an additional investment of £3.5 million.