Yes, the law requires the Council to pay compensation to any person that has a secure, and some other specific tenancies and has lived in their home for more than 12 months at the point at which they are forced to leave their home. The amount you will receive is currently £6,500 and you may spend this as you wish. You may also be entitled to financial support to pay for reasonable moving costs.
The final offer on this and your right to return will form part of what’s called a ‘Landlord offer’. You will receive this early in 2021.