Decision - Housing Revenue Account Budget and Capital Investment Programme 2019/20 and Medium Term Financial Strategy

128.1      RESOLVED TO RECOMMEND:

(1)       That full Council approve the updated HRA revenue budget for 2019/20 as shown in Appendix 2 to the report (as amended for any change to reserves arising from amendments (3) and (6) below); and

(2)       That full Council approve the capital programme budget of £26.964m for 2019/20 and notes the 3 year programme as set out in Appendix 4 to the report (as amended for any change to the capital programme arising from amendments (4), (5) and (6) below).

(3)       That a HRA Rent Support Reserve of £1.050m be created, through a reduction in the reserve funding of the HRA capital programme by borrowing the same, and to apply this reserve in the form of a subsidy over the lifetime of modelled new schemes in order to support the provision of new council homes at lower rents, particularly social rents and 27.5% living wage rents;

(4)       That the Purchase Properties budget be increased by £3.500m and added to the 2019/20 HRA Capital programme to be funded by HRA borrowing and Right to Buy receipts; and

(5)       That a budget of £3.500m be added to the 2019/20 HRA Capital programme to purchase buildings to provide emergency homeless accommodation for in-house delivery by the council to be funded by HRA borrowing and RTB receipts.