Decision details

Executive Board is recommended to :

i)  approve the development of an investment programme as described  in the report including the use of Right to Buy receipts.

ii)  approve the injection of £28.512m into the Capital Programme

iii)  authorise the authority to spend of £42.623m, a detailed programme will be reported at a subsequent meeting.

iv)  authorise further authority to spend of £2.015m subject to a successful bid to HCA.

v)  delegate the detailed development of the investment programme to the Directors of City Development (in respect of land use) and Environment & Neighbourhoods (in respect of programme and scheme details and cost).

The Director of Environment and Housing and the Director of City Development submitted a joint report providing details of a proposed approach towards investment in new council housing, funded through the Housing Revenue Account. In addition, the report sought approval of the proposed programme which would contribute towards the overall level of resources available to support housing priorities as well increasing the Council Tax base and the level of New Homes Bonus receivable.

As part of the introduction to the submitted report, the Executive Member for Neighbourhoods, Planning and Support services thanked all the officers who had been involved in the development of this programme.

Members received further information regarding the debt ceiling which had been established by Government in respect of the amount of borrowing that could be undertaken through the Housing Revenue Account.

RESOLVED –

(a)  That the development of an investment programme, as described within the submitted report, be approved, including the use of Right to Buy receipts.

(b)  That the injection of £28,512,000 into the Capital Programme be approved.

(c)  That the authority to spend £40,623,000 be authorised, with a detailed programme being reported to a subsequent meeting of the Board.

(d)  That further authority to spend of £2,015,000 be authorised, subject to a successful bid to the Homes and Communities Agency (HCA).

(e)  That the detailed development of the investment programme be delegated to the Directors of City Development (in respect of land use) and Environment and Housing (in respect of programme and scheme details and cost).

As the programme is still being formulated, consultation with individual Ward Members or communities has not yet taken place.  As it moves into implantation phase and specific sites are identified, local consultation will take place and a consultation plan will be prepared.

See process