Decision details

Housing Revenue Account (HRA) Budget and Rent Levels for 2024/25 (ER&H6)

Decision Maker: Cabinet

Decision status: For Determination

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

Report to set the HRA Budget and Rent Levels for 2024/25

Decision:

The Cabinet considered the rent levels and service charges for the Housing Revenue Account (HRA) and a recommended budget for 2024/25 and then recommended that the Council Meeting give approval to:-

 

(1) An increase of 7.7% for social and affordable rent.

 

(2) An increase of 9.4% for rent of shared ownership properties.

 

(3) Service charge increases as outlined the updated section 3 in this addendum, with authority delegated to the Deputy Chief Executive, in consultation with the Cabinet Member for Economy, Regeneration & Housing, to agree a lower increase should this be necessary.

 

(4) The Housing Revenue Account Budget for 2024/25 as set out in Appendix 1.

Alternative options considered:

None.

Interests and Nature of Interests Declared:

None.

Reason Key: Affects 2 or more wards;

Wards Affected: (All Wards);

Equality and/or Environmental Impact Assessment: Will be included in the report

Decision Reference: CAB438

Declarations or conflicts of Interest: None.

Forward Plan Reference: ER&H6

Other reasons / organisations consulted

Will be included in the report

Contact: Andy Kippax, Services to Place Email: andy.kippax@stockport.gov.uk Tel: 0161 474 4319.

Report author: Kora Yohannan

Publication date: 31/01/2024

Date of decision: 30/01/2024

Decided at meeting: 30/01/2024 - Cabinet

Accompanying Documents: