Decision details

To seek approval for the proposed 2022/23 Housing Revenue Account (HRA) Budget, 5-year medium term financial and 30yr business plan. 

Cabinet will recommend to Full Council:

1. A rent increase of 4.1% effective from Monday 4th April 2022, applicable to HRA dwelling and non-dwelling rent (general needs accommodation, supported housing, temporary accommodation and garages).
2. The one-year revenue budget of £127.1m for 2022/23 set out in Appendix A1.
3. The five-year capital programme 2022/23–2026/27, as detailed in Appendix A1.
4. The 30-year business plan as outlined in Appendix A4 noting that this will be subject to annual review and an in-depth review on a rolling 5-year basis.
5. The 30-year finance model as set out at appendix A4 subject to annual review and Full Council approval of the annual budget and 5-year capital plan.

Cabinet:

6. Authorised the Executive Director of Growth and Regeneration, in consultation with the Cabinet Member for Housing Delivery and Homes, to set service charges in line with the anticipated and actual cost of delivery.
7. Authorised the Executive Director of Growth and Regeneration in consultation with the Cabinet Member for Housing Delivery and Homes to submit appropriate funding applications (including Homes England grants for development) and if successful to accept funding, agree associated grant terms/conditions and spend the funding ) by delivery of the projects (set out in appendices A2 and A3) via compliant procurement routes and use HRA investment plan funds and or reserves to match fund projects to maximise funding opportunities. Such authority to include decisions above £500K and to last for the period of the 5-year capital plan.
8. Authorised the Executive Director of Growth and Regeneration in consultation with the Cabinet Member for Housing Delivery and Homes, subject to keeping within the approved overall HIP budget:

a.      To approve the priority of the procurement projects set out in Appendix A2, take all steps required to select the appropriate procurement route and to award the contracts (including any above the key decision threshold), in line with the Councils procurement rules and regulations

b.      To adjust and/or defer (from within the current year’s programme, including those set out in Appendix A2) any project(s) to fund the increased cost of any other project and/or to accommodate other changes in the programme, and

c.       To add to, or substitute, projects within the HIP programme as circumstances dictate.

9.      Authorised the Executive Director of Growth and Regeneration, in consultation with the Section 151 Officer, Cabinet Member for Finance, Governance and Performance and Cabinet Member for Housing Delivery and Homes (with appropriate legal and procurement advice) and, subject to keeping within the approved overall HDP budget, to implement the HRA Development Programme set out in Appendix A3 including:

a.      all steps necessary to procure and award contracts (including goods, works and professional services) during 2022/23 to deliver the HRA Development programme capital investment plans detailed in Appendix A3 (notwithstanding those individual contracts may exceed the key decision threshold).

b.      agree the allocation of financial expenditure on schemes within the Programme

c.       to determine the appropriate nature/mix of tenure appropriate for each scheme

d.      to identify suitable sites and properties for the programme, including both Council property and acquiring additional land or properties.

10.  Noted the Consultation report at Appendix B.