That the existing Housing Revenue Account (HRA) Acquisition Provisional Budget of £7 million for 2022-23 and 2024-25 is moved to the HRA Approved Capital Programme
Reason(s):
To facilitate the delivery of social housing whilst contributing to the Councils plan to fully utilise Right To Buy receipts.
Other options considered and rejected by the Executive:
2. Do nothing: End the current element of the programme, and potentially repay RTB receipts, plus interest, to the Government as they may not be utilised.
3. Defer a decision until the next HRA Budget is brought forward in 2023: End the current scheme and not progress schemes and opportunities currently in development and remodel the Future Programme for consideration
Details of any conflict of interest declared by the Leader or lead councillors and any dispensation granted:
None.