Plans to generate £85m of housing investment in Fife are to be considered next week.

Councillors will discuss budget proposals for the Housing Revenue Account (HRA) at the Executive Committee on 4 December.

Fife Council says the committee will consider recommendations to generate money for housing such as a potential rent increases, re-investing in existing council housing and making plans in preparation for the UK welfare reforms.

The Council has set a target to provide 2,700 homes by 2017 to help reduce the need for affordable rented property.

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Councillors will be asked to choose one of three potential rent increase options to be discussed at the meeting to decide how to increase funding to £85m by March 2017.

The three options are an average increase of £2.03 per week, an average increase of £3.16 per week or an average increase of £3.16 per week for most households, but a £8.82 increase for households in new build council homes.

The latter option would involve introducing equity in rents by taking into account the higher quality, lower running costs and increased energy efficiency of a new build.

Councillors will also compare the proposed rent increases to those of other local authorities in Scotland and rents charged by the Registered Social Landlord sector in Fife.

On 6 December, council tenants will be given the chance to have their say on the proposals and the decided option of the Executive Committee.

A final decision will be made in February next year after tenant’s views have been collected.

(IT/GK)