What has been called the ‘largest investment’ in council houses ever in the district is set to go through.
South Holland District Council says it will look to spend an average of £62,100 on each of its properties as part of its 30-year business plan to 2056.
The authority says it will keep its Housing Revenue Account (HRA) in line with government targets on the standards of homes.
The £235m investment throughout the plan will come at a cost though, with £142m financed through ‘borrowing’, a report to the authority’s Cabinet states.
That figure ‘factors in the existing £67.5m debt originally taken out in 2012’, the report states.
It continues: “In order to protect the HRA, the council will need to continue to maximise income to the HRA, ensuring that actual rent increases are in line with maximum amounts permitted by government policy.”
Over the 30 years, the council expects to generate £854.5m in income which it would need to invest in to its housing stock.
Coun Tracey Carter, the portfolio holder for strategic and operational housing, says the business plan corresponds to ‘significant changes in the social housing landscape’.
“The HRA remains sustainable over the full 30-year period,” she told the Cabinet meeting on Tuesday night. “The plan is fully fundable and delivers on all of our principal objectives and aligns with local government association benchmarks.
“While the plan includes an increase in borrowing to deliver the largest investment programme in South Holland history, this investment is affordable and necessary to meet government expectations, ensuring our homes remain safe, decent and efficient.”
Council leader Coun Nick Worth said: “It’s a really great bit of work.
“It gives tenants assurance that the standard of housing is going to be good.
“Where we need to replace old housing with new housing is built in there.
“We’re ahead of the game compared with a whole lot of other councils.”
The Cabinet also voted through changes to its Empty Homes, Houses in Multiple Occupation and Housing Standards Enforcement Policy to ensure it is the same through all councils that are part of the South and East Lincolnshire Councils Partnership.
Introducing a scoring system to identify the empty homes that are of greatest concern and setting universal fixed penalty notices and charges are among the reasons given for the changes.
