Decision details

1.     That the HRA Business 30 year Plan for 2020-21 to 2049-50 be approved as summarised in the Operating Account included as Appendix 4 of report CAB3275.

2.     That an increase in the projected capital programme of £173m be supported subject to the approval of individual items below, and the proposed long term funding strategy that will see borrowing increase to £407m subject to the final detailed HRA budget and the Capital Strategy being approved by Council in February 2021.

3.     That it be noted that the business plan is viable and sustainable and will support the council’s ambitious delivery of 1,000 new affordable homes over the next ten years.

4.     That the changes proposed to refresh and simplify the current financial viability hurdles to recognise the residual value of housing within the HRA and take full advantage of historically low borrowing rates be approved.

5.     That it be noted that the calculation of the minimum HRA reserves will in future take account of both the scale of new build as well as the net operating expenditure within the HRA.

6.     That the creation of an Energy Officer post to facilitate the council’s carbon reduction agenda and embed it within the current and future housing stock be approved, subject to the final detailed HRA budget being approved by Council in February 2021.

7.     That the proposed increase in capital funding of £2.5m in retro fitting capital funding which will increase the funding from £10.7m to £13.2m be supported, subject to the final detailed HRA budget and the Capital Strategy being approved by Council in February 2021.

8.     That the proposal for a £10m investment in the purchase of a potential site for new housing development be supported, as well as £0.5m for nitrate mitigation offset measures subject to the final detailed HRA budget and the Capital Strategy being approved by Council in February 2021.

9.     That the allocation of an additional £0.2m of investment as described at paragraph 17.2 of report CAB3275 for sewage treatment works be supported, subject to the final detailed HRA budget and the Capital Strategy being approved by Council in February 2021.

10.  That the increase in budgetary provision of £0.064m to support the increase in costs of the current 1 year Orchard contract and enable officers to procure a longer term 3 year contract be approved, subject to the final detailed HRA budget and the Capital Strategy being approved by Council in February 2021.