Proposal

Council is seeking feedback on the draft Subsidised Lease Program Policy.

The draft Subsidised Lease Program Policy outlines what the program is, who is eligible to participate and the operating framework.

In summary, the program will seek to provide affordable rental housing in the Waverley LGA for tenants who meet the requirements of Council’s Affordable Housing Program Tenancy Policy (recently adopted by Council). The program is proposed to operate as follows:

  1. Council engages a Community Housing Provider (CHP) to operate the program for a fixed term.
  2. The CHP will lease private rental stock in and around the Waverley LGA, either from the open rental market or by working with their existing private landowner contacts who may be able to offer private dwellings available for rent. The CHP will likely headlease the dwellings, and then sub-lease to tenants who need the housing and are eligible under the Tenancy Policy. Pending terms of the contract with the CHP, Council will not be on the lease.
  3. Council will partially subsidise the rent of tenants involved in the program from the net revenue generated from commercial office floorspace. The subsidy will ensure that the tenant is paying what they would under the Affordable Housing Program and Tenancy Policy.

The draft Subsidised Lease Program Policy outlines that:

  • Lease periods will align with the Tenancy Policy.
  • Unit sizes will be subject to what is available on the market and the requirements of the eligible tenants.
  • Units will be located within the Waverley LGA where possible. However, units located in suburbs that directly adjoin the Waverley LGA borders will also be considered where units within Waverley LGA are not available.

Program funding and modelling

Commercial office floor space known as 'Whitton Lane' was dedicated to Council through a Voluntary Planning Agreement with a developer in 2020. The rental income generated by Whitton Lane is required to go towards affordable housing.

As Whitton Lane is currently occupied and rental income is being generated, there is opportunity to use the net rental income to subsidise rents under the draft Subsidised Lease Program Policy.

Modelling shows that Whitton Lane net rental income can subsidise the rent of roughly 4 to 9 households annually (depending on the unit size and household income).

How to submit feedback

Please submit your feedback on the draft Subsidised Lease Program Policy through one of the following methods:

Feedback closes at 11.59pm, Friday 2 August 2024

Please note that the comments submitted will form part of Council’s public record and as such can be made available for public viewing on request.

For more information, please contact Emma Rogerson, Senior Strategic Town Planner, through Council’s Customer Service on 9083 8000, or via email at emma.rogerson@waverley.nsw.gov.au