Agenda item

Report of the Corporate Director of Place, Interim Director of Finance and Director of Housing.

Resolved to RECOMMEND:  (to Council)

That

(1)           the Housing Revenue Account (HRA) Budgets for 2024-25, as set out in  Appendix 1 to the officer report, be approved;

(2)           HRA capital programme, as set out in Appendix 6(a) to the officer report, be approved.

RESOLVED:  That

(1)           the proposed average weekly rent for general needs and sheltered accommodation of £142.62 and £122.42 for 2024-25, respectively, which reflected increases of 7.7% in line with the national rent policy for social housing, as set out in paragraph 20 and Appendix 2 of the officer report, be approved;

(2)           the proposed average weekly rents for affordable properties of £212.69, which reflected an increase of 7.7% in line with the national rent policy for social housing, as set out in paragraph 20 and Appendix 2 of the officer report, be approved;

(3)           the proposed average weekly rents for shared ownership properties of £226.70, which reflected an increase of 7.7%, in line with the national rent policy for social housing, as set out in paragraph 21 and Appendix 2 of the officer report, be approved;

(4)           the five-year Housing Revenue Account (HRA) Capital programme of £186,243,545 made up of £77,715,124 planned investment, £38,714,883 Building Council Homes for Londoners (BCHfL), £75,000 Grange Farm Infrastructure, £69,738,538 Homes for Harrow Phase 2, as set out in paragraphs 48 to 56 & Appendix 6(a) & 6(b) of the officer report, be approved;

(5)           the HRA 30-year Business plan and assumptions (paragraphs 57 to 63) Appendix 7(a) and 7(b) of the officer report) be approved;

(6)           the proposed average weekly general need service charge of £8.38 and sheltered services charges of £17.46 per week,  which reflected inflation and new level of cleaning service as set out in paragraph 24 to 27 and Appendix 2 of the officer report, be approved.

(7)           the proposed average weekly services charges for affordable and shared ownership properties of £4.86 and £14.72 respectively, as set out in Appendix 2 to the officer report, be approved;

(8)           an average weekly facility charge of £33.00 for sheltered properties (paragraph 27 of the officer report) be approved;

(9)           an enhanced weekly management charge for sheltered properties of £22.00 (as per paragraph 28 of the officer report) be approved and which charge reflected services provided to the Council’s sheltered tenants that was over and above to that provided to general needs tenants;

(10)        an average weekly heating charge for general needs tenanted properties of £20.10 (as per paragraph 27 of the officer report) be approved;

(11)        an increase of 7% to water charges, as set out in paragraph 30 and Appendix 4 of the officer report, be approved;

(12)        the weekly parking spaces and garage charges of £10.90 and £16.60 respectively as set out in paragraph 29 and Appendix 3 be approved;

(13)        a 7% increase to the 2023/24 hourly hire charges applied to Community Halls, as set out in paragraph 31 and Appendix 5 of the officer report, be approved;

(14)        should the Homes for Harrow Phase 2 be delayed and subject to resources being available, allow the HRA to enter into an acquisition programme to maximise the use of 1-4-1 capital receipts, paragraph 53 of the officer report refers;

Reason for Recommendation:  To ensure the viability of the HRA and the proposed HRA capital programme for 2024-25 and the Medium Term Financial Strategy (MTFS) for 2025-26 to 2026-27.  The 30-year HRA business plan had been refreshed and updated to reflect the new budget and MTFS requirements.