Decision details

The report sets out the plans to increase the number and range of new Council housing to meet housing need over the next 10 years.

That the Cabinet Member for Neighbourhoods and Community Safety:-

(i) notes the progress of the HRA funded Stock Increase Programme since its approval in 2014 and approves the principle of increasing delivery from 1,600 to around 3,100 new homes over the next 10 years (which if necessary may include the purchase of land for the purpose of the delivery of new council homes) subject to individual business cases and the Council’s Capital Approval Processes;

(ii) agrees that proposals be developed for shared ownership homes to improve housing choice in some areas and notes that appropriate policies for the management of this tenure will be the subject of a further executive decision; and

(iii) approves that the HRA Stock Increase Programme is reviewed annually to ensure that any additional prudential borrowing is at a level that poses no additional risk to the 30 year HRA Business Plan as the programme increases the number of new homes provided.

An extension to the Stock Increase Programme will significantly increase the number of new Council homes and the type of homes needed to meet the growing need for new affordable homes for rent in a number of key locations across the city.

That the Stock Increase Programme remains at 1600 new homes, as approved in the current HRA Business Plan. This would not take advantage of the new HRA borrowing freedom to increase the level of provision from within the HRA to significantly accelerate new homes.

The Council could have considered disposing of Council HRA allocated land and secured s106 units. However, this could limit the Council’s opportunity to provide the numbers of new homes by this approach and, we would not achieve the quality and type of homes needed.