1. That the 1% reduction in social housing rents be implemented in accordance with the Welfare Reform and Work Act and give 28 days’ notice be given to all secure and introductory tenants of the rent reduction from 2 April 2018.
2. That the business plan be adopted as set out at Appendix A (to the Cabinet (Resources) Panel report) as the approved Housing Revenue Account (HRA) business plan including;
a. The revenue budget for 2018-2019 at Appendix A3.
b. The capital programme for 2018-2019 to 2022-2023 at Appendix A4 including provision for retrofitting of sprinklers in high-rise blocks and building of new council housing.
c. The increase in the management allowance for Wolverhampton Homes for the transfer of Homelessness and Housing Options services.
3. That the rates for garage rents and service charges be agreed as set out in appendices B1-B3 and tenants be formally notified.
4. That it be agreed, the Council positions itself to take advantage of any flexibility in HRA borrowing by gearing up to develop more council housing on suitable sites.