Agenda and draft minutes

To note the names of apologies given and deputy members who are attending the meeting in place of appointed members.

Apologies for the meeting were noted as above. In addition, in order to widen discussion, the Chair had asked each political group for one deputy member to attend for agenda item 6.  

To receive any disclosure of interests from Councillors or Officers in matters to be discussed.

Note: Councillors are reminded of their obligations to declare disclosable pecuniary interests (DPIs), other registerable interests (ORIs) and non-registerable interests (NRIs) in accordance with the Council’s Code of Conduct.

If you require advice, please contact the appropriate Democratic Services Officer, prior to the meeting.

No declarations were made.

No announcements were made.

That the minutes of the meeting be signed as a correct record.

RESOLVED:

That the minutes of the previous meeting held on the 25 November 2025 be approved and adopted.

To receive and note questions asked and statements made from members of the public on matters which fall within the remit of the Committee

Members of the public and visiting councillors may speak at the Policy Committee, provided they have registered to speak three working days in advance.  Please complete this form (https://forms.office.com/r/Y87tufaV6G ) by 5pm on 17 February 2026 or call (01962) 848 264 for further details.

There were no comments or questions during public participation. The Chairperson noted, however, that two members of the TACT Board were present and had been invited to participate in the committee’s deliberations on agenda item 6.

Please note that it may be necessary for the meeting to adjourn for part of this agenda item. Any feedback, conclusions, or recommendations will be considered following the adjournment

The Chairperson advised that it was proposed to deal with this agenda item in a more interactive format than for regular committee items. It was intended that this approach would generate a deeper debate and achieve a cross-party understanding and consensus of the key aspects of the HRA. He explained that following an introduction, the committee would adjourn to work in three separate groups to attempt to balance a HRA budget before reconvening to discuss their findings. The intention would be for each group to construct a balanced HRA budget, weighing competing priorities such as investing in existing stock, increasing new homes, and redeeming HRA debt.

Councillor Mark Reach, Cabinet Member for Good Homes, and Simon Hendey, Strategic Director, introduced the agenda item which included a presentation (available here) and included the following points:

1. The existing HRA plan supported the delivery of 1,000 new homes up to 2032, with retrofit investment funded through to 2030.
2. Groups were required to balance expenditure with projected income for each year, ensuring working balances were not reduced and that income assumptions reflected the national rent regime.
3. Groups could select their own spending mix to achieve a balanced HRA, noting that multiple valid solutions were possible.
4. Indicative projected income figures for 2032–2037 were provided.
5. Members were advised that whilst some expenditure areas (such as housing management and repairs & maintenance) could only be adjusted minimally, others (including depreciation and interest payments) were fixed.
6. The main area of flexibility related to choices between debt repayment and the delivery of new homes, supported by indicative net cost figures ( £20k for social rent and £17.5k for affordable rent), with costs accumulating as new homes were added.
7. Examples of expenditure categories were outlined, covering repairs and maintenance (reactive repairs, damp and mould, HHSRS, voids, cyclical servicing, inspections, adaptations, communal areas) and housing management (tenancy management, ASB, lettings, rent collection, leasehold/RTB work, sheltered schemes, and tenant engagement), alongside indicative expenditure figures for 2032–2037.

The committee proceeded to ask questions regarding the provided presentation which included the following:

1. A question was asked regarding the current algorithm and drivers that had built the HRA plan up to 2032.
2. Further clarification was sought on whether the predicted interest rates were completely aligned with all other predictions in the general fund.
3. A question was asked whether the interest rates were universal across all council activity, including both the general fund and the HRA.
4. Clarification was requested on whether specific attention should be paid to repairs and maintenance, such as retrofit, to ensure best value for money.
5. A question was asked whether the model captured other elements or opportunities that might trigger a different financial route if more money became available.
6. Further clarification was sought on whether HRA viability could be improved by internal carbon pricing or carbon accounting.
7. Clarification was requested on whether the council could borrow more money to build more houses and the implications of doing so.

These points were responded to by Councillor Mark Reach, Cabinet Member for Good  ...  view the full minutes text for item 6.

01/07/26

15/09/26

24/11/26

23/02/27

RESOLVED:

That the dates of future meetings were noted.