Decision details

Decision details

The future strategic direction for the Council's group of housing companies

Decision Maker: Cabinet, Council

Decision status: For Determination

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

The recent changes to the HRA headroom limit gives the Council the opportunity to acquire and manage newly developed affordable housing. This report sets out how the Council's land assets can be used to enable this development to proceed with its housing company, Oxford City Homes Limited, whilst supporting overall service delivery within the Council and providing new homes for those in need.

Decisions:

Council considered a report of the Head of Housing submitted to Cabinet on 29 May 2019 proposing changes to the arrangements between the Council’s group of Housing companies and the Council’s Housing Revenue Account for the delivery of affordable housing in response to recent government policy changes and recommending a review of future Oxford City Housing Limited (OCHL) development with a view to expanding activity and accelerating affordable housing delivery.

 

Councillor Rowley, the Cabinet Member for Affordable Housing presented the report and moved the recommendations, which were agreed on being seconded and put to the vote.

 

Council resolved to

1.            increase the HRA capital programme by £45.303m so that adequate additional budgetary provision is made available for the acquisitions to take place as set out in Appendix 1 of the report;

2.            approve a revised HRA budget and Business Plan that incorporates the new acquired dwellings that impacts on rental income, maintenance spend, interest payments, debt redemption activity and other matters as set out in Appendix 2 of the report; and

3.            approve the re-phasing of the loans from the  General Fund Capital Programme in relation to the borrowing activity of OCHL over the MTFP period 2019/20 to 2022/23 as set out in Appendix 1 of the report.

 

Report author: Alan Wylde

Publication date: 09/08/2019

Date of decision: 22/07/2019

Decided at meeting: 22/07/2019 - Council

Accompanying Documents: