Agenda item

Purpose of Report

To present Executive with the long-term Housing Revenue Account (HRA) Business Plan for 2024/2054 which introduced the 30-year business plan that set out the Councils intentions for what we wanted to achieve over that period.

Executive was asked to approve the contents of the HRA Business Plan for 2024/2054 and the strategic workstreams that were included in the plan (considered by Housing Scrutiny Sub Committee on 2 November 2023.)

Decision

That the HRA 30 Year Business Plan be approved.

Alternative Options Considered and Rejected

None.

Reason for Decision

Lincoln was a successful city and demand for housing was expected to grow over the life of this business plan. The Council maintained 7,800 homes which represented approximately 20% of the city’s total number of domestic homes, and also managed and maintained 1,235 council garages.

All Councils with 200 or more council houses were required to hold a Housing Revenue Account.

Extensive consultation had taken place in collaboration with Lincoln Tenants Panel, Tenants and five member workshops held.

The HRA covered revenue income and expenditure relating to the Council’s own housing stock. It was an account ring-fenced from the Council’s general fund as required by the Local Government Act 1989, which specified the items that could be charged and credited to it.

The Council must include all costs and income relating to the Council’s landlord role (except in respect of leased accommodation, for households owed a homeless duty, and in respect of accommodation provided other than under Housing Act powers).

The Council had a legal duty to ensure the account remained solvent and to review the account throughout the year.

The HRA Business Plan set out the income and expenditure plans for the delivery of council housing in Lincoln. The Plan and associated budgets would be reviewed and monitored annually. A five-year business plan was reviewed and approved in February 2023. However, it was apparent that a number of strategic workstreams that needed to be included in the plan (i.e. Additional Homes, Decarbonisation, Estate Regeneration) could not be planned for or delivered within a five year timeframe, so the decision was taken to develop a new long-term (30-year) business plan that would allow sufficient time and investment to deliver these long-term goals.

The Housing Revenue Account invested over £30million in Lincoln’s economy each year, with much of this spend going to local businesses and residents. These partnerships with local businesses helped to support the growth of a vibrant and resilient economy in the city

The business plan contained proposals to maintain and improve approximately 7,800 homes, whilst also regenerating neighbourhoods and delivering much needed new and refurbished additional homes.

The provision of good quality housing was a fundamental human need. Providing quality accommodation would improve the quality of life for thousands of people across the city and deprivation and inequality would be minimised.

We were working to make our council housing as energy efficient as possible, also using the HRA to drive down our carbon footprint.

Failure for the HRA Business Plan to be approved by Executive would have a detrimental impact on the delivery of housing services in Lincoln.