Issue - meetings
VOLUNTARY AGREEMENT TO EXIT THE HOUSING REVENUE ACCOUNT SUBSIDY (HRAS) SYSTEM
Meeting: 25/11/2014 - Cabinet (Item 10)
10 VOLUNTARY AGREEMENT TO EXIT THE HOUSING REVENUE ACCOUNT SUBSIDY (HRAS) SYSTEM
To consider a confidential report by Councillor Julian Thompson-Hill, Lead Member for Finance and Assets (copy enclosed) asking Cabinet to recommend the voluntary agreement to Council for approval and seeking delegated authority to finalise the detail of the agreement.
Additional documents:
- Restricted enclosure 3 , View reasons restricted (10/2)
- Restricted enclosure 4 , View reasons restricted (10/3)
- Restricted enclosure 5 , View reasons restricted (10/4)
Decision:
RESOLVED that Cabinet –
(a) recommend the
voluntary agreement to Council for approval and note the key milestones being
worked to in order to exit the HRAS system, and
(b) subject to
Council approving the voluntary agreement, delegated authority be given to the
Lead Member for Finance and Assets and the Chief Accountant to finalise the
detail of the agreement in discussion with the Welsh Local Government
Association, Welsh Government and the ten other stock retention authorities in
Wales.
Minutes:
Councillor Julian Thompson-Hill presented the confidential
report requesting Cabinet recommend the voluntary agreement to Council for
approval and approve delegated authority to finalise the detail of the
agreement.
The report outlined the key milestones for exiting the HRAS
system and provided an overview of the voluntary agreement to be signed between
the eleven stock retention authorities and the Welsh Government to enable the
exit to take place. Councillor Hugh
Irving elaborated upon the collaborative working between authorities and paid
tribute to the hard work of the finance and housing officers in that
regard. Members familiarised themselves
with the collaborative agreement and welcomed the benefits of the proposed new
system and financial advantages for Denbighshire. Officers responded to questions raised
regarding the financial implications of the buy-out together with potential
future investment in affordable housing stock and implications of the possible
merger with Conwy. Councillor Eryl Williams reiterated his view that the Council’s plans
to building affordable housing should be publicised as a good news story. Councillor Thompson-Hill thought it would be
a good opportunity to publicise the plans when the buy-out of the housing
subsidy was considered at full Council.
RESOLVED that Cabinet –
(a) recommend the
voluntary agreement to Council for approval and note the key milestones being
worked to in order to exit the HRAS system, and
(b) subject to Council
approving the voluntary agreement, delegated authority be given to the Lead
Member for Finance and Assets and the Chief Accountant to finalise the detail
of the agreement in discussion with the Welsh Local Government Association,
Welsh Government and the ten other stock retention authorities in Wales.