Decision details

Housing Revenue Account Business Plan 2019/20 to 2048/49

Decision Maker: Housing, Economy and Business Committee

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

To provide the annual update to Members of the financial projections and modelling in relation to Housing Revenue Account, covering income and expenditure over the next 30 years.

Decisions:

Trevor Hart, Housing Strategy and Commissioning Manager, presented the report accompanied by Simon Latham, Assistant Director - Housing, Planning and Regeneration. Justin Chamberlin, Asset Management Lead - Sutton Housing Partnership, also attended.

 

In debate, Members discussed fire safety measures, following the events at Grenfell, and the SHP Manager referred to a programme in place to ensure adherence, particularly with regards to door installations.

 

In response to member questions, clarification was given by the Assistant Director to the lifting of the HRA borrowing cap, as mentioned in the introduction of the HRA business plan.

 

Finally support was given to the potential of a Phase 3 new build programme.

 

RESOLVED: that

1.    The Housing Revenue Account (HRA) Business Plan 2019/20 to 2048/49, as set out at Appendix A, be agreed.

2.    Further work be undertaken on the possibility of running a Phase 3 new build programme.

3.    The proposed HRA expenditure within the financial modelling on property acquisitions, be agreed, subject to meeting prudential borrowing rules.

4.    A flexible approach be adopted to directing resources between the acquisition and future new build programmes as potential new build sites are identified and assessed.

5.    The policy proposals and approach to asset management, as set out in chapter 4 of the HRA business plan, be agreed.

Report author: Trevor Hart

Publication date: 26/03/2019

Date of decision: 19/03/2019

Decided at meeting: 19/03/2019 - Housing, Economy and Business Committee

Accompanying Documents: