Purpose

To seek approval of the Housing Revenue
Account business plan for 2024 - 2025 including the revenue budget,
capital programme, rents and service charges

Content

1.   
That the Business Plan be adoptedas set
out at Appendix 1 to the report as the approved Housing Revenue
Account Business Plan including:
a. The revenue budget for
2024-2025 at Appendix 1 to the report.
b. The Capital Programme for
2024-2025 to 2028-2029 at Appendix 2 to the report that includes
the following among the proposed investment plans:
·    
£100 million for new homes
·    
£67 million provision for estate remodelling
·    
41 million to complete the refurbishment of the Heath Town
estate
·    
£46 million remediation works to non-traditional properties
including energy efficiency improvements
·    
£141 million for programmes to high rise estates to include
building safety improvements, infrastructure replacement, and
external works to include energy efficiency
·    
£34 million for low and medium rise infrastructure
improvements
 

2.   
That the implementation of an increase of 7.7% to social housing
rents in accordance with the Rent Standard and the Welfare Reform
and Work Act 2016 and to give 28 days’ notice to all secure
and introductory tenants of the rent increase from 1 April 2024 be
approved.

3.   
That the rates for garage rents and service charges set out in
Appendix 3 to the report be approved and tenants be formally
notified.

4.   
That an increase to Shared Ownership rents of 7.7% be approved.

5.   
That allowances to Managing Agents be approved as follows:
• Wolverhampton
Homes £47,700,000
• Bushbury Hill
Estate Management Board £2,070,000
• Dovecotes TMO
£1,280,000

6.   
That it be approved, that authority be delegated to the Deputy
Leader: City Housing in consultation with the Director of Resident
Services to approve managing allowances to New Park Village
Tenant  Management Cooperative to allow
for further work on costs relating to the redevelopment of the
estate and management responsibilities.

7.   
That it be approved, that authority be delegated to the Deputy
Leader: City Housing in consultation with the Director of Resident
Services to approve the equity sale of Shared Ownership
properties.