Refresh of Housing Revenue Account Business Plan
Decision Maker: Executive
Decision status: Decision Made
Is Key decision?: No
Is subject to call in?: Yes
Purpose of the report: This is an annual refresh of the 30 year business plan.
The Executive will be asked to agree the amended plan and finances.
This item has been deferred from the Executive meeting on 28 September to 19 October 2017. Following the election in June there has been some uncertainty that means it would be prudent to put the revised plan back to October.
As part of the Housing business plan review, there is a need to review the depreciation methodology as the self financing transitional arrangements are coming to an end. We are seeking external assistance to do this piece of work and to allow time for this to happen it has been necessary to further defer this item to the Executive meeting on 15 November 2017.
Resolved: (i) That Option 1, to adopt the HRA Business Plan set out in Annex A to the report, be approved.
Reason: The plan sets out the priorities for the HRA for the next five years and gives clear messages as to the commitment to continue to invest in the council’s existing stock and local communities and to build much needed social rented housing.
(ii) That the use of Right to Buy receipts and the investment fund to purchase ‘first refusal’ council tenancies and appropriate properties on the open market, within the limits stated in the report, be approved.
Reason: In order to support the priorities in the HRA Business Plan.
(iii) That it be agreed that there is no longer a requirement to conduct a stock options appraisal.
Reason: In the light of the changes that have happened since the original decision was made at Executive and the expressed desire of residents’ associations to remain with the authority.
Report author: Denis Southall
Publication date: 16/11/2017
Date of decision: 15/11/2017
Decided at meeting: 15/11/2017 - Executive
Effective from: 18/11/2017