Council housing finance reform
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Transcript of Council housing finance reform
Council housing Council housing finance reformfinance reform
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Council housing Council housing finance reformfinance reform
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Ian DoolittleIan DoolittlePartner
Trowers & Hamlins
The rules
■ Ministerial powers ■ Reopening the settlement ■ The Borrowing Cap■ Regulation■ The ring fence
The resources
■ Government rent policy – present and future ■ Increased allowances “incorporated”■ Disabled adaptations support■ Separate Decent Homes catch-up funds
The debt
■ ‘Payment’ (and ‘repayment’) authorities■ Public Works Loan Board – only?■ Bonds■ Bridging loans
Borrowing
■ The cap – and headroom■ Notional debt windfall ■ New build and other exceptions■ Looking ahead
Disposals
■ Statutory regime still applies■ New freedom - how helpful?■ Trickled voids■ RTB receipts
LSVT
■ Financial comparability with self-financing■ “Taxation impacts” – VAT?■ “Rigorous VFM assessment”■ Tenants’ “Right to Transfer”■ New guidance promised
Estate or “special” transfers
■ Areas/types of property - n.b. sheltered schemes■ Ballots?■ RPs’ involvement■ Special vehicles?■ Trickling voids?
Asset management
■ No incentives now to keep “wrong” stock■ Keeping receipts – n.b. resolutions■ Freedom to dispose without CLG consent?
ALMOs
■ Increased pressure■ Settlement is “ALMO blind”■ Governance support?■ Refashioning the relationship
PFI - type structures
■ Fee available - semi-assured■ Securitisation?■ Enough headroom?■ Servicing debt
Outsourcing
■ A defined business ■ Benefits from external competition?■ Joint housing management and repairs/ maintenance
packages?
Ian Doolittlet +44 (0)20 7423 8415e [email protected]
Questions and further information
Council housing Council housing finance reformfinance reform
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