Question for consideration at Tenants Panel Meeting 2nd February 2016
Norman Adams – January 2016 – Northampton
Negative financial impacts of 1% rent decrease :
Savings on Retained HRA – £0.6m
The remaining £20m is proposed to be found by splitting over the following areas:
a)NPH Management Fee (25% / £4.98m)
b)Repairs and Maintenance (30% / £5.98m)
c)Capital Investment Programme (45% / £8.97m)
Still to factor in: Extension to Housing Associations of Right to Buy
The extension to Housing Associations of Right to Buy will result in a formulae approach to calculating how much the HRA will have to pay over to Treasury to pay for this extension.
Details of the formulae are awaited to enable the assessment of impact although it will be another negative financial impact on the HRA starting from 2017/18.