RESOLVED: That
(1) the Housing Revenue Account (HRA) Business Plan update 2020, which would set the framework for the draft HRA Budget 2021-22 & Medium Term Financial Strategy (MTFS) 2022-23 to 2023-24 and Capital Programme, due to be submitted to Cabinet on 3 December 2020, be approved;
(2) the work being conducted on alternative delivery models, the costs and procurement route of which would be the subject of a future report to Cabinet and for which the HRA Business Plan would be updated, be noted.
Reason for Decision: To have in place an updated 30-year HRA Business Plan required for construction projects within the HRA which would have significant impacts on the Community and Businesses within the Borough by providing much needed accommodation and infrastructure. Given the nature and scale of the approved new developments, together with the impact of Covid 19 and Brexit, regular and rigorous reviews of the HRA Business Plan were warranted together with consideration of alternative delivery models to achieve new housing supply and contribute to the Council’s wider regeneration aspirations.
Alternative Options Considered and Rejected: As set out in the report.
Conflict of Interest relating to the matter declared by Cabinet Member/Dispensation Granted: None.