Slough Council’s cabinet is set to approve a new housing business plan which will invest £140 million in council housing over the next seven years.
The Housing Revenue Account Business Plan will be discussed by the October Cabinet meeting. The plan, which runs until 2046, will then be issued to the residents’ board and other tenant groups for consultation.
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. The plan also details a £40 million investment in new council homes over the next four years.
Mike England, director of housing, regeneration and resources, said: “It is a requirement for local authorities to publish a housing revenue account business plan which sets out our spending priorities and commitments for the next 30 years.
“Slough is in a strong position and this is reflected in the plan.”
Councillor Zaffar Ajaib, commissioner for housing and urban renewal, said: “Council housing is becoming more, not less, important as it is vital to provide affordable accommodation for people who live and work in the borough.
“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.”
He added: “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.”