DECISION

  Revenue

1.            To approve the draft 2015/16 Housing Revenue Account budget as set out in Appendix 1.

2.            To approve the draft 2015/16 Management Fee payable to Tower Hamlets Homes (THH) of £35.116 million as set out in Table 3 in section 7.

3.            Subject to 2 above, to note that under the Management Agreement between the Council and THH, THH will manage delegated income budgets of £89.818 million and delegated expenditure budgets of £24.345 million on behalf of the Council in 2015/16.

4.            To note the HRA Medium Term Financial Plan (2015-18) outlined in Appendix 2.

Capital

5.            To adopt a capital estimate of £1 million to fund Overcrowding Reduction Initiatives as outlined in paragraph 10.3.

6.            To adopt capital estimates for the Aids and Adaptations programme (£750,000), the Capitalisation of Voids (£1.5 million) and the Capitalisation of Fees and Salaries (£650,000) as outlined in paragraph 10.4.

7.            To adopt a capital estimate of £250,000 in order to maintain a contingency for urgent works of £1 million, as outlined in paragraph 10.5.

8.            To adopt an increased capital estimate for Ashington East new build scheme of £2.450 million, as detailed in 10.7 and 10.8.

9.            To adopt a capital estimate of £813,000 for the award of Disabled Facilities Grants, as outlined in paragraph 11.1. 

10.         To adopt a capital estimate of £550,000 in respect of Private Sector Improvement Grants, including Empty Property Grants, for 2015/16, to be financed from ring-fenced resources received from the East London Renewal Partnership (paragraph 11.2).

11.         To adopt capital estimates for the various S106 schemes outlined in section 12.

12.         To note that £33 million of resources have been included within the capital programme (Appendix 4) to reflect the necessity to deliver new housing supply in order to spend the currently unallocated 1-4-1 receipts of £14.5 million, as detailed in para 6.17.

Action by:

CORPORATE DIRECTOR, DEVELOPMENT AND RENEWAL (A. DALVI)

(Service Head, Strategy, Regeneration and Sustainability (J. Odunoye)

(Finance Business Partner (P. Leeson)

(Senior Accountant (K. Ball)