Decision details

The Cabinet will be asked to consider the HRA estimates and rent levels for Council properties for 2024/25, together with service and other related charges, and also to approve the rolling 30-year HRA Business Plan setting out how the Council intends to fund its stock investment, estate regeneration and new build plans.

Cabinet resolved to:

(i)  Agree that rents for all general needs secure, affordable and sheltered housing accommodation be increased by 7.7%, in line with the Government’s current rent policy of CPI +1% (with CPI for September 2023 of 6.7% being used as the base), meaning an increase to the average rent for general needs from £108.72 per week to £117.07 per week;

(ii)  Agree the following service charges for tenants:

(iii)  Agree that charges for heating and hot water be reduced by 5.5% in line with decreases in the estimated charges for 2024/25 provided by suppliers as follows:

(iv)  Note that following the annual review of current charges and insight from the provider, water charges shall increase by 10% while sewerage charges shall remain at the current year’s rates;

(v)  Agree the HRA Income and Expenditure budget for 2024/25 and note the changes from the 2023/24 budget, as detailed in section 3 of this report.

(vi)  Agree a £24.7m capital programme for the HRA in 2024/25 and note the indicative 4-year HRA capital programme detailed in section 4 of the report;

(vii)  Agree that the above charges take effect from 1 April 2024;

(viii)  Note the draft HRA 30-year business plan, as detailed in section 2 of the report, and the indicative 30-year financial forecasts set out in Appendices A and B to the report; and

(ix)  Note that the final version of the HRA Business Plan shall be presented to Cabinet in March 2024 after a comprehensive review by the Strategic Director, Resources.