Issue - meetings

The Cabinet Member for Communities & Housing submitted a report which set out the planned reform of the Housing Revenue Account Subsidy System

(HRAS) in Wales, the implications for the Council and the key actions required by the Council to implement the changes.

CABINET DECISION

That:

1)       The Council enter into the Voluntary Agreement to exit the Housing           Revenue Account Subsidy system along the lines set out in this report    and to undertake sufficient borrowing to meet its share of the settlement.

2)       Authority be delegated to the Director of Place and the Head of       Finance to enter into the Voluntary Agreement and to determine the       accounting and debt management policy of legacy and additional      borrowing.

Policy Framework

Local Housing Strategy

Reason for Decision

To ensure all necessary preparations and key decisions have been made to implement the changes.

Consultation

Legal, Finance and Access to Services