Decision details

Councillor Price proposed and Councillor Johnson seconded the following addition:

After Recommendation x (page 38 of agenda) add:

xi.             Approve an in-depth review of the Housing Capital Investment Plan alongside the already planned update to the HRA Asset Management Plan, to identify capital funding for a significant citywide City Homes Estate Improvement Programme, including dealing with the estimated £1m backlog of fencing repairs required across our estates following years of under-investment.

On a show of hands the amendment was lost by 13 votes to 21

Resolved (by 21 votes to 13) to:

Treasury Management

       i.          Approve the revised approach to treasury management, setting-aside a proportion of the surpluses generated over the life of the Business Plan to allow for potential debt redemption, but re-investing up to 75% of the surplus generated in the acquisition or development of new affordable housing, as outlined in Section 7 of the HRA Budget Setting Report.

Housing Capital

     ii.          Approve the capital bids, shown in Appendix H of the HRA Budget Setting Report, to include resource to implement the Cambridge Public Sector Network across housing offices, to purchase an additional module for the Housing Management Information System, to undertake emergency water mains replacement at Kingsway and to carry out remedial works to a specific HRA dwelling and the surrounding block.

   iii.          Approve the re-phasing of £15,000 of resource between 2014/15 and 2013/14 to complete communal floor covering works to an entire block whilst the relevant equipment is on site.

   iv.          Approve the re-phasing of funding for UPVC window replacements of £500,000 from 2014/15 and £850,000 from 2015/16 into later years in the Housing Capital Investment Plan, recognising that it was too early to move to a full investment standard.

    v.          Approve the re-phasing of £250,000 from 2014/15 to 2015/16 in respect of the communal areas uplift, recognising that the full programme of works had not yet been finalised.

   vi.          Approve the gross funding of £16,210,000 for the development of the affordable housing project at Clay Farm, in line with the scheme specific report being presented to Community Services in January 2014, which assumes 75% affordable rented and 25% shared ownership housing.

 vii.          Approve the funding of £2,875,000 for the provisional purchase of 13 market housing units on the garage re-development sites (or other units of existing market housing), recognising this as an appropriate use of retained right to buy receipts.

viii.          Approve the earmarking of the required level of additional funding for new build investment in 2016/17 and 2017/18 to ensure that the anticipated level of future retained right to buy receipts can be appropriately utilised.

   ix.          Approve the revised Housing Capital Investment Plan as shown in Appendix M of the HRA Budget Setting Report.

    x.          Approve a provisional addition to the Housing Capital Allowance of £30,591,000 in respect of anticipated qualifying expenditure in 2014/15.