Purpose

To report the Housing Revenue Account Business
Plan, Revenue Budget, Capital Works Programme and increase to Rent
and Services Charges.

Decision

1.   
That the Business Plan set out at Appendix 1 to the report be
adopted as the approved Housing Revenue Account (HRA) Business Plan
including:
a. The revenue budget for
2025-2026 at Appendix 1 to the report.
b. The Capital Programme for
2025-2026 to 2029-2030 at Appendix 2 to the report that includes
the following among the proposed investment plans:
• £98 million for
new homes.
• £67 million
provision for estate remodelling.
• £82 million for
programmes to high rise estates to include building safety
improvements, infrastructure replacement, and external works to
include energy efficiency.
• £110 million for
Internal Decency works including refurbishment of void
properties.

2.   
That the implementation of an increase of 2.7% to social housing
rents in accordance with the Rent Standard and the Welfare Reform
and Work Act 2016 be approved and 28 days’ notice be given to
all secure and introductory tenants of the rent increase from 1
April 2025.

3.   
That the rates for garage rents and service charges set out in
Appendix 3 to the report be approved and tenants be notified
formally.

4.   
That an increase to Shared Ownership rents of 2.7% be approved.

5.   
That an increase of £3.0 million to the allowance payable to
Wolverhampton Homes for 2024-2025 to be funded by a virement from
the budget for Capital Financing and Debt repayment be approved.
The virement would increase the Repairs and Maintenance budget by
£2.5 million and the Supervision and Management budget by
£0.5 million.

6.   
That a £3.0 increase to the HRA reserve in 2024-2025 funded
by a budget virement of £3.0 million from the budget for
Capital Financing and Debt Repayment be approved.

7.   
That an allowance to New Park Village for Quarter 4 2024-2025 of
£85,000 be approved.

8.   
That allowances to Managing Agents for 2025-2026 be approved as
follows:
 
• Wolverhampton Homes
                                                  
 £51,700,000
• Bushbury Hill Estate
Management Board (EMB)          £2,105,000
• Dovecotes Tenant
Management Organisation (TMO) £1,305,000
• New Park Village
                                                             
 £370,000
 

9.   
That authority be delegated to the Deputy Leader: City Housing in
consultation with the Executive Director of City Economy to approve
the equity sale of Shared Ownership properties.