RESOLVED that it was recommended to Full Council that:
A The rent reductions for individual dwellings as set out in paragraph 30 of this report are approved with effect from 1 April 2019. This equates to an average weekly rent of £89.84 a statutory reduction of one per cent.
B Service charges for individual dwellings, as set out in paragraphs 22 to 29 of this report are approved with effect from 1 April 2019 for both tenants and leaseholders. This equates to an average weekly service charge to tenants of £2.49.
C Heating charges as set out in paragraphs 31 to 38 of this report are approved with effect from 1 April 2019 for both tenants and leaseholders. Average weekly general needs charges are £9.24per week (leaseholders £16.09 per week, equivalent) and, for sheltered accommodation, £6.83 per week.
D Rents for garages held within the category ‘Retain and Invest’ as defined in the ‘Garages and Hardstanding Improvement Strategy 2015’ will increase by five per cent, to £10.16 per week (for a standard garage) and proportionate increases for other garages, car ports and car spaces from 1 April 2019. Rents of garages in other categories will reduce by 20 per cent in order to provide an incentive, as set out in paragraphs 39 and 40 of this report.
E Housing related support charges are as set out in paragraphs 17 to 21 and Table 1 are approved for service users with effect from 1 April 2019.
F Other charges set out in paragraphs 41 to 43 of this report are approved with effect from 1 April 2019. Note the addition of two new charges from 1 April 2019 for the provision of information to facilitate Equity Release £30.80 and Re-mortgage work £20.50 (both inclusive of VAT at 20 per cent).
G The growth items outlined in paragraph 46 in respect of 2019/20 are approved.
H The Housing Revenue Account (HRA) budget (attached as set Appendix A to the report) is approved.
I A minimum HRA working balance shall be £4 million as at 31 March 2020, with £2.5 million being the minimum level and with an additional £1.5 million added as an allowance towards any additional expenditure required as a result of the Grenfell Tower Public Inquiry, (as set out in Appendix B of this report) is approved.