The report sets out the Housing Revenue Account (HRA) Landlord Business Plan Budget for 2018/19.  It sets out proposals that respond to legislative changes; make best use of the investment potential; mitigate pressures in the General Fund (GF) and align to the debt strategy in the context of long term Business Planning.

RESOLVED

1.         To note the HRA’s debt portfolio and interest payments due in 2017/18.

2.         That a principal debt repayment of £0.1M in 2017/18, with the intention to continue annual repayments of the Self Financing Debt, be approved.

RECOMMENDED to Council

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

2.            That the transfer of the former Care Home at the Birches in Shefford (once fully vacated) from the Council’s General Fund to the HRA, at a transfer value of £1.15M, be approved.

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

4.            That the HRA Revenue Budget for 2018/19 and the Landlord Business Plan summary at Appendices A and B to the Executive report, be approved.

5.            That the 2018/19 to 2021/22 HRA Capital Programme at Appendix C to the Executive report, be approved.

6.            That the average rent decrease of 1% for Council tenancies for 2018/19 in line with the national rental decrease, be approved.

The Executive considered a report from the Deputy Leader and Executive Member for Corporate Resources and the Executive Member for Adults, Social Care and Housing Operations setting out the financial position of the Housing Revenue Account (HRA) Landlord Business Plan and the proposed Budget for 2018/19.  The proposals:

·         responded to legislative changes;

·         made best use of the investment potential;

·         mitigated pressures in the General Fund; and

·         aligned to the debt strategy in the context of long term business planning.

The Deputy Leader and Executive Member for Corporate Resources drew attention to the comments and recommendations from the Corporate Resources Overview and Scrutiny Committee.

In response to questions, the Executive Member for Adults, Social Care and Housing Operations explained that the Council had an ambition to build new homes through a combination of funding sources and the deployment of assets, as appropriate.  She highlighted the schemes that were already being developed in Central Bedfordshire.  In addition, the Council sought to secure up to 30% affordable housing from new development, although there were challenges in achieving this.

Reason for decision:  To enable Council to approve the budget for the HRA.

RESOLVED

1.         to note the HRA’s debt portfolio and interest payments due in 2017/18; and

2.         that a principal debt repayment of £0.1M in 2017/18, with the intention to continue annual repayments of the Self Financing Debt, be approved.

RECOMMENDED to Council

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

2.            that the transfer of the former Care Home at the Birches in Shefford (once fully vacated) from the Council’s General Fund to the HRA, at a transfer value of £1.15M, be approved;

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

4.            that the HRA Revenue Budget for 2018/19 and the Landlord Business Plan summary at Appendices A and B to the Executive report, be approved;

5.            that the 2018/19 to 2021/22 HRA Capital Programme at Appendix C to the Executive report, be approved; and

6.            that the average rent decrease of 1% for Council tenancies for 2018/19 in line with the national rental decrease, be approved.

The decision was unanimous.