RECOMMENDED to Council

That the HRA budget proposals for 2014/15 be approved, as follows:

(a)     that the HRA’s debt portfolio and interest payments due in 2013/14 be noted;

(b)    that the proposal for principal debt repayments to begin in 2017/18 be approved;

(c)     that the use of £3.237m from the Major Repairs Reserve to finance part of the HRA Capital Programme for 2013/14 be approved;

(d)    that the development of an Investment Plan during 2014/15 to set out future development objectives, subject to consultation with stakeholders be approved;

(e)     that the HRA Revenue Budget for 2014/15 and the Landlord Service Business Plan summary at Appendices A and B to the report be approved;

(f)      that the 2014/15 to 2017/18 HRA Capital Programme at Appendix C to the report be approved; and

(g)    that the average rent increase of 5.46% for 2014/15 be approved in line with the national rental increase, as per the Government’s Rent Convergence Policy.