RECOMMENDED to Council

To approve the Housing Revenue Account (HRA) budget proposals for 2015/16, as follows:-

1.      that the HRA’s debt portfolio and interest payments due in 2014/2015 be noted;

2.      that the intention to commence principal debt repayments from 2017/18, as approved previously by Council in February 2014, be noted;

3.      that the Landlord Business Investment Plan, which proposes HRA investment throughout the Council area, be approved;

4.      that the development of the Independent Living Scheme in Houghton Regis, to enable the creation of a high quality, mixed tenure development that will incorporate approximately 170 homes for older people, as well as strengthening the retail and community offer for the Town Centre, be approved;

5.      that the HRA Revenue Budget for 2015/16 and the Landlord Business Plan summary at Appendix A and B be approved;

6.      that the 2015/16 to 2018/19 HRA Capital Programme set out at Appendix C to the Executive report be approved; and

7.      that the average rent increase of 2.20% for 2015/16 in line with the national rental increase as per Government guidance be approved.