The report sets out the financial position of the Housing Revenue Account (HRA) and the Budget for 2017/18.

RECOMMENDED to Council

That the Housing Revenue Account (HRA) budget proposals for 2017/18 be approved and:

1.      that the recent legislative changes relating to Housing Finance and their impact on the Landlord Business Plan, be noted;

2.      that the HRA’s debt portfolio and interest payments due in 2016/17, be noted;

3.      that the intention to commence principal debt repayments from 2017/18, as approved previously by Council in February 2016, be noted;

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

5.      that the HRA Revenue Budget for 2017/18 and the Landlord Business Plan summary at Appendices A and B to the Executive report, be approved;

6.      that the 2017/18 to 2020/21 HRA Capital Programme at Appendix C to the Executive report, be approved; and

7.      that the average rent decrease of 1% for Council tenancies for 2017/18 in line with the national rental decrease as per Government direction, be approved.