Issue - meetings

Cabinet:

Recommended to Council to

a)    Approve the HRA revenue budget for 2022/2023 as shown in the HRA Budget Summary as presented at Appendix A.

HRA: Review of Rents and Charges

b)    Approve that council dwellings rents for all social rented properties be increased by inflation of 3.1%, measured by the Consumer Price Index (CPI) at September 2021, plus 1%, resulting in rent increases of 4.1%, with effect from 4 April 2022.

c)    Approve that affordable rents (inclusive of service charge) are reviewed in line with rent legislation, to ensure that the rents charged are no more than 80% of market rent, with rents for existing tenants increased by no more than inflation of 3.1%, measured by the Consumer Price Index (CPI) at September 2021, plus 1%, resulting in rent increases of up to 4.1%. Local policy is to cap affordable rents (inclusive of all service charges) at the Local Housing Allowance level. As the Local Housing Allowance was increased significantly in late March 2020, affordable rent increases will be capped at 4.1% from April 2022, which is still well below the 2022/23 Local Housing Allowances levels. 

d)    Approve that garage rents be increased by inflation of 3.1% measured by the Consumer Price Index (CPI) at September 2021, plus 1%, resulting in increase of 4.1%, with effect from 4 April 2022.

e)    Approve that council dwelling rents for properties with an EPC rating of A or B are increased to 105% of target rent on re-let.

f)      Approve the proposed service charges for HRA services and facilities provided to both tenants and leaseholders, as shown in Appendix D.

HRA: Capital

g)    Approve the required level of funding for new build investment between 2022/2023 and 2026/2027 to ensure that commitments can be met in respect of the investment of all right to buy receipts currently retained or anticipated to be received by the authority for this period. This expenditure will take the form of HRA new build, with the 60% top up met by other HRA resources.

h)    Approve the HRA Medium Term Financial Strategy forecasts as shown in Appendix B.

i)      Approve the Housing Capital Programme as shown in Appendix C.

This is a recommendation to Council, and not subject to call-in.

Cabinet received the Housing Revenue Account Budget 2022-2023. Councillor John Williams, Lead Cabinet Member for Finance, introduced the report, and commented on the Council’s commitment to affordable housing, especially during the Covid-19 pandemic and rising cost of living.

Councillor John Batchelor, Lead Cabinet Member for Housing, said this was a sensible plan fulfilling the Council’s ambitions.

Councillor Bridget Smith, Leader of the Council, closed the discussion, and Cabinet:

Recommended to Council to

a)    Approve the HRA revenue budget for 2022/2023 as shown in the HRA Budget Summary as presented at Appendix A.

HRA: Review of Rents and Charges

b)    Approve that council dwellings rents for all social rented properties be increased by inflation of 3.1%, measured by the Consumer Price Index (CPI) at September 2021, plus 1%, resulting in rent increases of 4.1%, with effect from 4 April 2022.

c)    Approve that affordable rents (inclusive of service charge) are reviewed in line with rent legislation, to ensure that the rents charged are no more than 80% of market rent, with rents for existing tenants increased by no more than inflation of 3.1%, measured by the Consumer Price Index (CPI) at September 2021, plus 1%, resulting in rent increases of up to 4.1%. Local policy is to cap affordable rents (inclusive of all service charges) at the Local Housing Allowance level. As the Local Housing Allowance was increased significantly in late March 2020, affordable rent increases will be capped at 4.1% from April 2022, which is still well below the 2022/23 Local Housing Allowances levels.

d)    Approve that garage rents be increased by inflation of 3.1% measured by the Consumer Price Index (CPI) at September 2021, plus 1%, resulting in increase of 4.1%, with effect from 4 April 2022.

e)    Approve that council dwelling rents for properties with an EPC rating of A or B are increased to 105% of target rent on re-let.

f)      Approve the proposed service charges for HRA services and facilities provided to both tenants and leaseholders, as shown in Appendix D.

HRA: Capital

g)    Approve the required level of funding for new build investment between 2022/2023 and 2026/2027 to ensure that commitments can be met in respect of the investment of all right to buy receipts currently retained or anticipated to be received by the authority for this period. This expenditure will take the form of HRA new build, with the 60% top up met by other HRA resources.

h)    Approve the HRA Medium Term Financial Strategy forecasts as shown in Appendix B.

i)      Approve the Housing Capital Programme as shown in Appendix C.