Purpose

To agree the detailed HRA
budget proposals, rent levels and service charges for 2025/26 and
the HRA Capital Programme 2023-26.

Content

Recommended to Full Council (Budget and policy
framework):
 
(1) The HRA Revenue budget for
2025/26 and revised budget for 2024/25 as set out at Appendix 1 to
the report.
 
(2) The five-year HRA Capital
Programme as set out at Appendix 2 to the report.
 
(3) An increase of 2.7% to
social and affordable rents (including shared ownership) with
effect from 7th April 2025 in line with government
policy
 
(4) When social rented
supported accommodation properties are relet to new tenants, the
applicable rent will be increased by 10% above target rent with
effect from 7th April 2025 in line with government
policy
 
(5) When affordable rented
properties are relet to new tenants, the applicable rent is reset
to the lower of 80% of market rent (inclusive of Service Charges)
or Local Housing Allowance, with effect from 7th April 2025 in line
with government policy
 
(6) That the revised service
charges as set out in paragraphs 2.4 of the report and Appendix 3
to the report are implemented with effect from 7th April
2025.
 
(7) An increase of 10% to
Garage rents with effect from 7th April 2025
 
(8) To note that £5.982m
of Major Works capital expenditure profiled over 4 years between
2024/25 to 2027/28, is being 50% match funded by grant, subject to
Government grant bids. The Government scheme aims to improve EPC
ratings in HRA properties.