Decision details

1.    That the draft HRA Business 30-year Plan for 2023-24 to 2052-53 metrics shown in Appendix 1 of report CAB3432 be noted.

2.    That the budget options outlined within report CAB3432 be approved.

3.    That the proposed additional investment in the council housing stock of £30m over the next eight years to 2030-31 to retrofit properties on a fabric first basis to help improve their energy efficiency and reduce energy costs for tenants be noted. This additional annual investment brings the total annual investment here to £5.625m a year and £45m in total.

4.    That the proposed strategic change in direction moving from a plan based upon direct delivery of new homes to one based upon a mixture of actively acquiring s106 affordable housing directly from developers alongside future development with grant funding and using Right to Buy resources be noted.

5.    That the current financial viability assessment for new build be noted and that at present all potential development sites based on current assumptions evaluated this year have not been assessed as being financially viable within the existing viability model (see paragraphs 12.3 -12.6 of the report).

6.    That the proposed move to 80% market rent to help improve the viability of new homes development and to mitigate the increasing cost of delivery be noted.

7.    That it be noted that a revenue savings target of £400k over two years has been set to assist with bridging the forecast gap in financing future capital expenditure.

8.    That the disposal in principle of Barnes house in 2024-25 be approved, and in addition two strips of land with one surplus HRA property per year over the next eight years to generate additional capital receipts to help fund the increased investment requirement over these years.

9.    That subject to consultation, the terms of individual leases and a review of costs, the move to full cost recovery for private connections of the council’s sewage treatment works be approved and note that this will include transitional protection and be achieved within a five-year timeframe.