Decision details

It was RESOLVED:

1.         That HRA dwellings be increased, week commencing 1 April 2020, by 2.7%, an average increase of £2.56 for social rents £4.17 for affordable rents and £3.16 for Low Start Shared Ownership (LSSO) homes per week. This has been calculated using the rent formula, CPI +1% in line with the Government’s rent policy, as set out in Paragraph 4.1.1. of the report.

2.         That the rent policy be updated to reflect the rent increase guidance of CPI+1%, (revised from a minus 1% rent reduction excluding LSSO properties).

3.         That the draft 2020/21 HRA budget be approved, as set out in Appendix A to the report.  This may be subject to change as a result of consultation and the finalisation of recharges from the General Fund.

4.         That the final HRA rent setting budget for 2020/21 be presented to the Executive on the 22 January 2020 and then Council on 29 January 2020.

5.         That key partners and other stakeholders be consulted and views fed back into the 2020/21 budget setting process.

Reason for Decision:  As contained in report.

Other Options considered:  As contained in report.