Decision

 
1.   
That the draft HRA Business 30-year Plan for 2024-25 to 2053-54
metrics shown in Appendix 3 and current 5 year projection at
Appendix 1 be noted.
 
2.   
That the business plan pressures identified in the 2024/25 business
planning exercise as outlined in paragraphs 11.26 and 11.36 of
report CAB3478, totalling £1.986m be noted.
 
3.   
That the budget options outlined within report CAB3478 and detailed
at Appendix 2 be approved as a basis for consultation to inform the
February budget setting.
 
4.   
That the reallocation of £0.25m from the one off investment
budget set in the previous business plan be approved to meet
actions arising from our self
assessment of our consumer standards compliance and service
improvements identified. 
 
5.   
That the continuing strategy for New homes based upon a mixture of
actively acquiring s106 affordable housing directly from developers
alongside future development with grant funding and using Right to
Buy resources be noted.
 
6.   
That the current financial viability assessment for new build from
para 11.15 to 11.25 of the report be noted.
 
7.   
That it be noted that a revenue savings target of £2m has
been set to assist with bridging the forecast gap in financing
future capital expenditure.
 
8.   
That the proposed timescale for asset disposals be noted, and that
Barnes House disposal has been reconsidered for proposed use as
Temporary Accommodation.
 
9.   
That it be noted that based on the September 2024 CPI figure of
1.7% that the average formula rent increase for 2025-26 for all
affordable and social housing will be 2.7%.
 
10.That it be noted that the budget
in October announced a consultation for future rent settlement
between now and December, which indicates preference for CPI+1 for
5 years into the future, and approve the application of this
principle in the business plan model to mitigate the cost of new
build developments and reduce long term debt burden to the HRA once
the outcome of the consultation is known.
 
11.That continuing full cost
recovery in tenant service charges in 2025/26 be approved and it be
noted that charges will generally reduce following a softening of
energy prices.
 
12.That it be noted that there is
an ongoing workstream on the re-procurement of the repairs and
maintenance contract. The Business plan provides for this to happen
over the following two years at a provisional one-off cost of
£0.4m in 2024/25, and estimated £0.3m in 2025/26.