Decision details

1.    Adopted the Business Plan set out at Appendix 1 to the report as the approved Housing Revenue Account Business Plan including:

a. The revenue budget for 2021-2022 at Appendix 1 to this report.

b. The Capital Programme for 2021-2022 to 2025-2026 at Appendix 2 to the report that included the following among the proposed investment plans;

•   £134.0 million for new build development.

•   £41.3 million provision for Estate Remodelling.

•   £3.6 million for a new programme for low and mid-rise infrastructure replacement.

•   £2.0 million budget provision for conversion of commercial property to residential to provide additional homes.

•   £44.5 million to complete the refurbishment of the Heath Town estate.

•   £86.5 million for programmes to high rise estates to include fire safety improvements, infrastructure replacement, retrofitting of sprinklers and external works.

2.    Approved the implementation of an increase of 1.5% to social housing rents in accordance with 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 2021.

3.    Approved the rates for garage rents and service charges set out in Appendix 3 to the report and formally notifies tenants.

4.    Approved Management Allowances for Managing Agents as follows;

•   Wolverhampton Homes - £39,425,000

•   Bushbury Hill Estate Management Board - £1,720,000

•   New Park Village Tenants Management Organisation - £383,000

•   Springfield Horseshoe Tenants Management Organisation - £360,000

•   Dovecotes Tenants Management Organisation - £1,113,000