Issue - meetings

To seek approval from Cabinet of the adoption of the new HRA Acquisition and Disposal Policy which sets the framework for the way in which we acquire and dispose of land or assets to and from the Housing Revenue Account.

Purpose of report

To seek approval of the adoption of the HRA Acquisition and Disposal Policy which set the framework for the way in which land or assets were acquired or disposed of from the Housing Revenue Account.

Decision

That Cabinet approves that the adoption of the Housing Revenue Account (HRA) Acquisition and Disposal Policy was in line with best practice and would provide clear operational guidance.

Alternative options considered and rejected

Continue without an adequate policy or procedure.

Reasons for decision

The clarity provided by the HRA Acquisition and Disposal Policy enabled staff working in the service to make operational decisions efficiently and consistently. This in turn provided greater transparency and understanding for the reasoning and decision-making process in relation to property acquisitions and disposals within the Housing Revenue Account.

The report had been considered and recommended to Cabinet by Housing Overview and Scrutiny Committee at its meeting held on 21 September 2023. An additional £1 million of capital for the Housing Revenue Account had been approved by Full Council on 28 September 2023, in order to acquire properties which met the criteria set out in the HRA Disposal and Acquisitions Policy. The Policy set out the framework of these acquisitions and the agreed protocol.