Hounslow Council


Decision details

CHAS 530 - Housing Revenue Account (HRA) 30 Year Business Plan

Decision Maker: Cabinet

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: No

Decision:

Resolved:

 

That Cabinet agreed the recommendations of the report as follows:

 

1.     Cabinet approved Capital expenditure of £97 million to fully fund the new 5-year Housing Revenue Account (HRA) Capital Works Programme (2017/18 to 2021/22).

2.     Cabinet agreed the revised HRA 30- Year Business Plan, attached as Appendix 1 of the report, which had been updated to take into account recent and proposed national policy and financial changes, and the resulting reductions in HRA income and investment capacity.

3.     Cabinet agreed the allocation of £8 million of S106 housing contributions to the HRA new build programme, in particular, to enable the delivery of Brentford High Street Block D scheme.

4.     Cabinet agreed flexibility to borrow the remaining £8 million of the HRA headroom in order to meet the development of Brentford Block D and fund the purchase of the new housing fleet.

5.     Cabinet agreed a review of Phase 2 of the HRA council housing building programme, with a view to maintaining current levels of new social rented homes, by scaling back the Council’s own house building, whilst seeking delivery partnerships with Registered Social Landlords (RSLs) for building new social rent homes post 2018.

6.     Cabinet agreed a review of current HRA assets to identify those that are suited for disposal to support the payment of the ‘higher value sales’ levy.

7.     Cabinet agreed capital expenditure and borrowing of £3.3 million to finance the renewal of the housing vehicle fleet.

 

Publication date: 22/03/2017

Date of decision: 21/03/2017

Decided at meeting: 21/03/2017 - Cabinet

Accompanying Documents: