The money will allow work to continue on a number of rolling improvement programmes, including replacing kitchens and bathrooms in all council houses, as well as a central heating replacement project. Councillors also claim the investment plan will allow the council to set rent at affordable levels.
Members of the housing and health committee will be asked tomorrow to approve the Housing Revenue Account Investment Plan for the financial years 08/09-10/11. The total planned investment of £64.381 over the three-year period represents an annual investment of £21.5m.
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Dave Roberts, executive director (housing and community care), says the £21.5m a year total has soared by £4m.
He said: "The projected cost of the kitchen programme has increased due to higher-than-anticipated construction inflation and the requirement to carry out more work than expected."
The projected cost of the bathroom programme had decreased due to efficiency savings but the net effect was a projected cost increase of approximately £4m at this stage.
Housing and Health convener, Councillor Peter Barrett, said: "This is a very significant investment underlining our determination to deliver the Scottish Housing Quality Standard by 2015. It's making a real difference to the lives of our tenants.
"When our tenants voted to remain with the council a few years ago we made promises to them about improving their homes. The excellent work being carried out across a number of ambitious projects is now delivering those promises.
"As well as improving our housing stock, the investment plan will also allow us to continue to set rent at affordable levels. The cost of rent in Perth and Kinross compares favourably with other Scottish local authorities."
(GK/JM)
