Report of the Corporate Director of Place, Director of Finance and Divisional Director of Housing.
Resolved to RECOMMEND: (to Council)
(1) the Housing Revenue Account Budget for 2023/24 and the Housing Revenue Capital Programme as set out in Appendix 1 and 6 to the officer report, be approved.
(2) the proposed average weekly rent for general needs and sheltered accommodation of £132.00 and £113.52 for 2023-24 respectively as set out in paragraph 32 and Appendix 2 to the officer report, be approved;
(3) the proposed average weekly rents for affordable and shared ownership properties of £197.49 and £210.64, which reflect increases of 7% in line with the national rent policy for social housing, be approved;
(4) a five-year Housing Revenue Account (HRA) Capital programme of £181,228,214 made up of £52,965,240 planned investment, £54,617,799 Building Council Homes for Londoners (BCHfL), £212,249 Grange Farm phase 3, £2,615,000 Grange Farm Infrastructure, £70,817,926 Homes for Harrow Phase 2 as set out in paragraphs 59 to 65 Appendix 6 to the officer report, be approved;
(5) the HRA 30-year Business plan and assumptions as set out in Appendices 7 and 7a to the officer report, be approved;
(6) the flexibility under the Governments Rent Policy, to allow void properties to be re-let at formulae rent plus 5% and 10% for general needs and sheltered properties respectively, be approved;
(7) the proposed average weekly general need service charge of £8.22 and sheltered services charges of £16.95 per week, be agreed, noting that the charges proposed reflect the outcome of the service charge review as set out in paragraph 38 and Appendix 2 to the officer report;
(8) the proposed average weekly services charges for affordable and shared ownership properties of £15.86 and £8.91 respectively as set out in Appendix 2 to the officer report, be approved;
(9) an average weekly facility charge of £30.77 for sheltered properties be agreed, noting that the charges proposed reflected the impact of significant increases in utility costs;
(10) an average weekly heating charge for general needs properties of £18.77, be approved;
(11) an increase of up to 7.5% to water charges as set out in paragraph 40 and Appendix 4 to the officer report, be approved;
(12) weekly parking spaces and garage charges of £10.16 and £15.55 respectively as set out in paragraph 39 and Appendix 3 to the officer report, be approved;
(13) a 10% increase to the 2022/23 hourly hire charges applied to Community Halls as set out in Appendix 5 to the officer report, be approved;
(14) the use of Section 106 Affordable Housing contributions held by the Council for the purpose of providing affordable housing as part of the Council funding for the development of this 100% affordable housing scheme, be approved;
[Call-in does not apply to the decisions above as they are reserved to full Council.]
Reason for Recommendation: To ensure the viability of the HRA and the proposed HRA capital programme for 2023-24 and the Medium-Term Financial Strategy (MTFS) for 2024 -25 to 2025-26.