Decision details

Recommended to Full Council (Budget and policy framework):

(1) The HRA budget for 2024/25 and revised 2023/24 budget as set out at Appendix 1 to the report.

(2) To agree that social and affordable rents (including Shared Ownership) are increased by 7.7% with effect from 1^st April 2024, in line with government policy issued in December 2022

(3) To agree that, with effect from 1st April 2024, when social-rented properties are relet to new tenants, the applicable rent will be increased by 5% above target rent

(4) To agree that the revised service charges as set out in paragraph 2.3 of the report are implemented with effect from 1st April 2024

(5) To agree that garage rents are increased by 6.7%.

(6) To agree the HRA Capital Programme as set out at Appendix 2 to the report.

(7) To note that £5.691m of Major Works expenditure is shown in the Capital Programme in 2024/25 and 2025/26 to improve EPC ratings in HRA properties, this expenditure being the subject of a Government grant bid to secure 50% match-funding.