New council housing plan invests £140million
The council’s Cabinet has approved a new housing business plan which will invest £140 million in council housing over the next seven years.
The Housing Revenue Account Business Plan was presented to Cabinet at their meeting on 17 October.
The council owns and manages more than 7,100 properties across the borough – making council homes the most valuable physical asset the council has.
The plan lays out an investment of £100 million in existing council properties over the next seven years though repairs, maintenance and investments.
And, because demand for council housing remains high and outstrips supply, the plan also details a £40 million investment in new council homes over the next four years.
Councillor Zaffar Ajaib, commissioner for housing and urban renewal, said: “Private house prices and rents are escalating year on year and our ambition is to provide good quality housing stock and build new homes which can be offered to residents at affordable rents. This plan lays out how we are going to do this.
“The £40 million investment in new council homes is the biggest in more than a generation and the whole £140 million will benefit those who are already council tenants and those who wish to be.
“It shows there is a bright future for council housing in Slough with more homes for local people.”
Tenants of the council will have a chance to have their say on the plan, which runs until 2046, as it is being issued to the residents’ board and other tenant groups for consultation. Tenants will also be asked to look at how we can improve council homes in the borough in the longer-term.
The plan will be comprehensively reviewed in March next year as government policy and legislation changes involving council housing are not yet clear and may impact the finance underpinning the business plan.