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Issue - meetings

Refresh of Housing Revenue Account Business Plan

Meeting: 15/11/2017 - Executive (Item 81)

81 Refresh of Housing Revenue Account Business Plan pdf icon PDF 545 KB

The Assistant Director for Housing & Community Safety to present a report which provides an overview of the revised Housing Revenue Account (HRA) 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.

Additional documents:

Decision:

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.

Minutes:

[See also under Part B Minutes]

 

The Assistant Director for Housing & Community Safety presented a report which provided an overview of the revised Housing Revenue Account (HRA) Business Plan (the Plan) for the next 30 years and details of the key priorities for the next five years.

 

The Plan was essentially a financial document, drawing upon information and analysis used in formulating the Council’s HRA Asset Management Strategy for 2015/16 to 2044/45.  It had been fundamentally revised to take account of the local impact changes announced after the 2015 general election, and subsequent events and legislation, including the Homeless Reduction Act 2017 and recent White and Green papers relating to housing.

 

Key areas within the Plan, which was attached in full at Annex A, were highlighted in paragraphs 20 to 54 of the report.  They included: new build to address growing housing demand; repairs and maintenance, Housing Management, supported housing, adaptations, tenant involvement and information systems. Members were invited either to adopt the Plan (Option 1) or to ask Officers to revise it further (Option 2).  It was noted that the Plan built upon the previous business plan and replenished the housing development fund, a key council priority. Any significant changes would require forecasts to be remodelled and so delay approval.

 

In response to Members’ questions, Officers confirmed that:

·        Money saved by not requiring a stock options appraisal would be used to conduct a stock condition survey;

·        The definition of ‘affordable rent’ was variable but for new properties the ‘social rent’ definition had been retained, i.e. 60% of market rent;

·        Quality on repairs and maintenance would be ensured by procuring contracts through the tender process, and using HouseMark guidance to improve efficiencies in-house.

 

The Executive Member for Housing & Safer Neighbourhoods commended the Plan and expressed the hope that it would receive cross-party support.

 

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.


 

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