Issue - meetings

Resolved to Recommend:

1.     to approve the updated Housing Revenue Account Business Plan

2.     to approve the revised development programme budgets as set out in Section 6.3 of the Cabinet report and the budget for the Martindale Development in Appendix 2, in part II of the Cabinet report  

Resolved to Recommend:

1.     to approve the updated Housing Revenue Account Business Plan

2.     to approve the revised development programme budgets as set out in Section 6.3 of the Cabinet report and the budget for the Martindale Development in Appendix 2, in part II of the Cabinet report  

Reason for Decision

To update Cabinet on the Annual Review of the Council’s Housing Revenue Account Business Plan

Corporate Objectives

Delivering Affordable Housing

Monitoring Officer/S.151 Officer Comments

Monitoring Officer:  

No comments to add to the report.

Deputy S.151 Officer:

The Business plan sets of the key financial assumptions and the dependencies and will be reviewed on a dynamic basis to ensure that the assumptions remain valid and any exceptions are reported for consideration by Cabinet.

The impact of the government proposals for the sale of high value properties will need to be analysed once details have been released and considered. Any material changes to the plan will be brought back for Cabinet consideration and if necessary the plan will be updated.

The necessary Secretary of State approvals for the sale of market value properties will need to be built into the project plan for the delivery of the scheme at Martindale and if approval is rejected then the plan would need to be amended and brought back for consideration.

Advice

Councillor Griffiths explained that the business plan needed to be approved prior to budget setting for 2017/18.

E Brooks added that additional resources were now in the plan due to the right to buy levels decreasing. This would be monitored annually. The plan had estimated 20 per year, however the actual was 100.

Additional funds were set out in section 6 of the report and there could be the option to review the scope of the Martindale proposal too.

Councillor Williams asked if the council could use the right to buy receipts to raise the 30% costs for new builds and land.

E Brooks said they could work with housing associations to collect the remaining 70%. This would be monitored throughout the year as the policy included the sale of high value homes, but this hadn’t been included in the business plan yet.

He noted that the council could be asked to generate more funds; however that would not be for this financial year.

Voting

None.