Report of the Assistant Director – Homes and Communities is attached

Contact Jane Trethewey  Tel: 01743 254917 

It was proposed by Councillor Dean Carroll, Portfolio Holder for Housing and Assets, and seconded by Councillor Mark Jones, Portfolio Holder for Growth and Regeneration that the report of the Assistant Director – Homes and Communities, and the recommendations contained therein, be received and agreed

RESOLVED

That Council approve

1.    An increase in the HRA permitted borrowing envelope from £122m to a maximum of £174m as per the schedules in section 7 of HRA Business Plan to fund a new development programme to deliver 509 units in the next five years.

2.    The reletting of properties at target rent at the change of tenancy in line with government guidelines, delivering a saving of £5.9m over the life of the current plan, the equivalent of funding 50 new affordable homes, and allowing STaR Housing to limit their additional borrowing ask to the maximum of £174m.

3.    The setting of HRA budgets in line with the overall programme values as set out in tables in section five.