Purpose

This report sets out the proposed HRA 30-Year
Business Plan, the detailed HRA Revenue Budget for 2026/27 and the
ten-year Capital Programme for investment in current stock and
development and regeneration. In this context the annual rent
increase for Council tenants and service charges for tenants and
leaseholders is proposed.

Decision

DECISION: The Cabinet agreed to
 
Recommend that Council
 
I       
Approves the detailed HRA Revenue Budget of £95.7m for
2026/27 as shown in paragraph 56
II     
Approves the 10-year HRA Capital Development Programme of
£610.9m to deliver c. 1,500 new homes and hurdle rates to
assess viability for schemes as set out from paragraph 65
III   
Approves the next five years RTB programme expenditure of
£35.8m as set out from paragraph 81
IV   
Approves the updated HRA debt profile and borrowing requirements of
£141m over the next 10 years as set out from paragraph 72
V    
Approves the 10-year HRA Investment in Stock Programme of
£255m for existing council homes as set out from paragraph
61
VI   
Approves a rent increase of 4.8% in line with Government guidelines
noting the social, affordable and shared ownership rent levels for
the HRA properties in 2026/27
VII 
Approves the level of service charges for 2026/27 for those tenants
and leaseholders receiving eligible services at an average increase
of £0.21p per week, as set out from paragraph 38
VIII   
Approves the charges for heating, garages, parking bay and
community halls rents as set out from paragraph 42;
IX   
Accept the provisional allocation offer of LAHF round 4 grant
funding of £17.99m from MHCLG and approve additional capital
budget of £40.5m to support delivery of 86 homes through this
grant.
X    
Approves the updated disposal strategy for the sale of void one bed
or studio flats as set out in paragraph 87.
 
To note:
 
 
XI   
The proposed bid to deliver 3,000 affordable homes over the next
ten years, supported by the new GLA Social and Affordable Homes
grant programme. The budget for this programme has not yet been
incorporated within the HRA budgets and will be included following
GLA grant negotiations.
XII 
The introduction of a management charge when issuing major works
bills to leaseholders
XIII The units at Meridian Water
that were previously being appropriated from the GF to HRA (123
units) are now part of the HRA capital programme budget, with the
development contract now managed by the Development team