The Housing Revenue Account (HRA) Business Plan sets out the priorities, plans and actions for council housing over the next 30 years. The HRA Business Plan was revised in September 2014 to include 2014/15 figures and identify new priorities. A further revision is due to be published in September 2017. You can also download the associated Housing Capital projections.
Its purpose is to show that we can maintain our housing assets and deliver a quality customer-focused service, as well as improve homes and neighbourhoods.
Reasons for a business plan
An effective HRA Business Plan has become evermore crucial since central government announced the reform of the rules governing local authority housing finance and the introduction of the self-financing system.
This new system requires local authorities to take on a one-off debt, in York's case £121.5 million, and in return keep all its revenue income. A proportion of Right to Buy receipts are still pooled and returned to central government.
It is crucial that the HRA continues to be managed on sound business principles.
The reforms open up some exciting opportunities for York to play a pivotal role in not only developing much needed social housing, but also in growing the city's economy.
Demand for social housing in York remains high, particularly for larger family homes, and this plan sets out our aspiration to build new council housing of the types required.
Aims of the business plan
The business plan sets out the investment required to:
- maintain our housing stock to continue providing good quality, sustainable council homes which meet a range of needs for today and for future generations
- achieve and maintain high standards of housing management and effective tenant involvement
- assist people in housing need to access social housing
- support vulnerable tenants in maintaining their tenancy and living independently
- respond to and pre-empt changing demand patterns by maintaining a balanced portfolio of housing which addresses a wide range of needs
- increase the environmental sustainability of our housing stock
We aim to deliver the investment programme in a cost effective manner, in accordance with sound procurement principles.