Issue - meetings

As a consequence of Housing finance reform in April 2012 the Council needs to set a long-term strategy to maximise the value and performance of the housing assets which are held within its Housing Revenue Account in order to best meet its housing priorities. A draft Asset Management Strategy has been prepared. This sets out a strategic framework for maintaining and developing the Council’s housing assets.

(i)         that consultation to proceed with Council tenants and leaseholders and with the wider community on the approaches recommended in the draft Asset Management Strategy including in relation to the rent policy proposed therein and that the responses to that consultation shall be taken into account in revising the strategy with a final version to then be reported to a future meeting of the Executive for approval;

(ii)        that preparation of a programme for infill development within the HRA estate of new affordable housing proceed with the final schemes to then be subject to further approval by the Executive;

(iii)       that development of proposals for a programme of estate regeneration and redevelopment proceed through taking forward initial feasibility studies with the proposed programme then being subject to further approval by the Executive;

(iv)       that further examination be made of options to maximise affordable housing development including where appropriate through partnership arrangements and to receive a further report on recommended approaches;

(v)        that an Asset Management Plan be developed to prepare the required programmes and resources that will be required to enable the prompt implementation of the final strategy once approved;

(vi)       that expenditure from the Housing Revenue Account be authorised to undertake the above activities of up to £200,000 which will be funded by transferring uncommitted one-off resources from the HRA depreciation budget in 2013-14.

The report from the Director of Regeneration and Growth advised that as a consequence of housing finance reform in April 2012 the Council needed to set a long-term strategy to maximise the value and performance of the housing assets which were held within its Housing Revenue Account in order to best meet its housing priorities. The proposals set out in the draft Asset Management Strategy depended upon a continuation for existing stock of the rent policy that the Council has operated in recent years. It is also proposed that receipts arising from HRA stock disposal were ring-fenced for expenditure through the HRA on the development or acquisition of affordable housing. Councillor McLennan (Lead Member, Housing) was pleased to report that this was a good news story and the council as a landlord was trying to manage assets. A draft Asset Management Strategy set out a strategic framework for maintaining and developing the Council’s housing assets covering three main areas namely, stock investment, stock reform mindful of the need for larger houses and Development including additional affordable housing. Councillor McLennan assured that the strategy would be subject to public consultation before being finalised and considered for approval by the Executive.

RESOLVED:

(i)         that consultation to proceed with Council tenants and leaseholders and with the wider community on the approaches recommended in the draft Asset Management Strategy including in relation to the rent policy proposed therein and that the responses to that consultation shall be taken into account in revising the strategy with a final version to then be reported to a future meeting of the Executive for approval;

(ii)        that preparation of a programme for infill development within the HRA estate of new affordable housing proceed with the final schemes to then be subject to further approval by the Executive;

(iii)       that development of proposals for a programme of estate regeneration and redevelopment proceed through taking forward initial feasibility studies with the proposed programme then being subject to further approval by the Executive;

(iv)       that further examination be made of options to maximise affordable housing development including where appropriate through partnership arrangements and to receive a further report on recommended approaches;

(v)        that an Asset Management Plan be developed to prepare the required programmes and resources that will be required to enable the prompt implementation of the final strategy once approved;

(vi)       that expenditure from the Housing Revenue Account be authorised to undertake the above activities of up to £200,000 which will be funded by transferring uncommitted one-off resources from the HRA depreciation budget in 2013-14.