Decision Maker: Council

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: February 25, 2026

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.

Content: 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