The Council Meeting approved:
(a) An increase of 7.7% for social rent and affordable rent.
(b) An increase of 9.4% for rent of shared ownership properties.
(c) Service charge increases as outlined in section 3, 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.
(d) The Housing Revenue Account Budget for 2024/25 as set out in Appendix 1.
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.