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HRA BUSINESS PLAN NOT A COUNCIL POLICY

HRA BUSINESS PLAN NOT A COUNCIL POLICY. 15 th October 2012. POLICY ISSUES. RISING HOUSING NEED. HOUSING NEED – LONG WAITING TIMES. STOCK CONDITION HEADLINES. Impact of Better Homes clear in reduced need for internal works On-going investment needed in windows, roofs and electrics

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HRA BUSINESS PLAN NOT A COUNCIL POLICY

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  1. HRA BUSINESS PLANNOT A COUNCIL POLICY 15th October 2012

  2. POLICY ISSUES

  3. RISING HOUSING NEED

  4. HOUSING NEED – LONG WAITING TIMES

  5. STOCK CONDITION HEADLINES • Impact of Better Homes clear in reduced need for internal works • On-going investment needed in windows, roofs and electrics • Accelerated investment required in lifts and heating systems • Communal decorations an issue • Over the 30 year period we would ideally spend £55m per annum

  6. INVESTMENT NEED YEARS 1 – 5 Total investment need Internal, external, communal works £179m Improvements (e.g. kitchen layout) £53m Mechanical and electrical £117m Structural works £24m Fire risk assessment works £15m Community halls, TRA halls etc. £3m Asbestos £10m Total £401m Major work includes Kitchens £18m Bathrooms £11m Wiring £27m Plumbing and individual heating £15m Windows £62m Roofs £15m M&E includes Lifts £49m Communal heating £35m Electrical £13m Gas Mains £8m

  7. INVESTMENT NEED VS. BUDGET • Proposed programme will see £43m per annum spent through Better Homes, this includes: • £26m internal/external • £14m M&E • £3m fire risk works • Survey states we need to spend £80m per annum in the next five years and £55m per annum over the 30 year period. We have put together a draft programme for consultation. Given resource constraints there were 100 lifts, 50 heating systems and works to over 200 estates and 700 street property blocks we could not include.

  8. WORKS NOT IN PROPOSED PROGRAMME Over 200 estates have works not included in proposed programme, key issues relate to wall finish and windows Over 700 street property blocks have works not included in proposed programme, again windows are the main key component to be addressed

  9. ISSUES FOUND – BUILDING REPAIRS Camden has a high proportion of timber sash windows (45% of dwellings), these need regular decoration and maintenance Communal areas and wall finish also require attention to prevent further deterioration

  10. ISSUES FOUND – M&E Camden has 500 lifts and a high proportion are beyond their recommended replacement year. They are also subject to every day wear and tear Many communal heating systems are prone to failure and have extensive buried mains that need updating

  11. REPAIRS TRENDS – LIFTS AND HEATING Impact of recent installations beginning to show General upward trend, will be some instances of duplicate orders for the same incident. In year graphs show large seasonal variations

  12. REPAIRS TRENDS – WINDOWS AND ROOFS External works under partnering commenced February 2010, impact starting to show As with roofs, Better Homes programme starting to reverse the upward trend

  13. COMMUNAL DECORATIONS The survey found that 1,665 blocks (42%) required decoration in the next five years Internal areas also require attention, through the development of the asset management strategy we need to determine what resources can be allocated to this

  14. 30 YEAR CASH FLOW

  15. 30 YEAR CASH FLOW

  16. CIP already delivering ambitious programmeof over 850 New Affordable Units HIGH COST ESTATES - STOCK CONDITION

  17. EFFECT OF BORROWING

  18. PAYING OFF DEBT * Assumes all rent surplus used to repay debt * Assumes No repayment of debt

  19. WHERE RENT GOES

  20. AVERAGE WEEKLY RENT

  21. IMPACT OF RENT INCREASE 67% of tenants on HB and therefore no impact, except Welfare Reform Initial estimate of up to 200 (1%) tenants affected by £500 benefit cap. Rent increase not covered by HB for this group. Estimated 1,600 affected by bedroom restriction – A £5 rent increase would increase the average potential benefit loss from £20 to £21 for this group.

  22. SCENARIOS FOR DISCUSSION

  23. TIMELINE

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