Issue - meetings

This report provides an overview of the revised Housing Revenue Account Business Plan for the next 30 years and provides detail of the key priorities for the next five years, including the investment fund to support the delivery of more affordable new homes.

Resolved:   That Executive agree Option One to adopt the Housing Revenue Business Plan and finance projection as set out in Annex’s A and B of the report.

Reason:     The plan sets out the priorities for the housing revenue account for the next 5 years and gives clear messages as to the commitment to continue to invest in the council’s existing stock, the local communities and, if still viable, to build new much needed social rented housing.

Consideration was given to an overview of the revised Housing Revenue Account (HRA) Business Plan for the next 30 years, key priorities for the next 5 years and details of the investment fund to support the delivery of more affordable homes.

It was noted that following the general election in May 2015 a fundamental review of the plan had been required to take account of the local impact of changes announced at a national level. As a result, significant savings were needed from current revenue expenditure over the next 4 years and it was likely that any future building programme for new council homes would need to be significantly reduced. It was noted that the plan had been developed following extensive consultation.

The Executive Member referred to the significant changes required to the HRA Business Plan arising from national policy changes and to the effect for the city. Other Members expressed their concern at the loss of revenue income from that previously projected and to the effect on the future building programme.

Consideration was then given to the following options:

Option one – To adopt the revised plan and finance projection set out at Annex’s A and B. 

Option two – To ask officers to revise the document.

Resolved:   That Executive agree Option One to adopt the Housing Revenue Business Plan and finance projection as set out in Annex’s A and B of the report. ^1.

Reason:     The plan sets out the priorities for the housing revenue account for the next 5 years and gives clear messages as to the commitment to continue to invest in the council’s existing stock, the local communities and, if still viable, to build new much needed social rented housing.