Decision Maker: Mid Suffolk Cabinet, Babergh Cabinet, Babergh Council, Mid Suffolk Council

Outcome:

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: February 11, 2025

Purpose: To approve the 2025/26 HRA budget and HRA 30 Year Business Plan.

Content: It was RESOLVED: -   1.1 That the HRA Budget proposals for 2025/26 set out in this report, be endorsed for recommendation to Council on 27 February 2025.   1.2 That a CPI + 1% increase of 2.7% for social rents, equivalent to an average rent increase of £2.78 for social rent and affordable rent of £4.05, a week be implemented.   1.3 That the RPI increase of 2.7% in garage rents, equivalent to an average rent increase of £0.29, a month be implemented.   1.4 That sheltered housing service charges and utility charges are capped at 10% overall. Equivalent to £2.92 a week increased service charge, and £0.47 a week increased utility charge be implemented.   1.5 That a new service charge for General Needs be implemented of an average £6.41 per week, per tenancy in a block.   1.6 That the rent tolerance of 5% on Social Rent properties be approved in line with guidance received from Trowers & Hamlins.   1.7 That in principle, Right to Buy (RTB) receipts should be retained within the Housing Revenue Account to enable continued development and acquisition of new council dwellings.   1.8 That the balance of £20k in the Building Council Homes reserve be transferred into strategic reserve.     REASON FOR DECISION To bring together all the relevant information to enable Cabinet Members to review, consider and comment upon the Councils Housing Revenue Account budget for recommendations to Council.   Alternative Options Considered and Rejected: The Housing Revenue Account Budget for 2025/26 is an essential element in achieving a balanced budget and sustainable medium-term position, therefore no other options are appropriate in respect of this.   Any Declarations of Interests Declared: None Any Dispensation Granted: None