Background

•ALMO founded in 2002 to manage Rochdale MBC’s Council Housing•50 neighbourhoods•600 employees•2 Stage Transfer:• Transfered Stock 13,650 in 2012.• Mutualised in 2013.

•Largest Mutual Landlord.•Uniquely owned by Tenants and Staff.

Our Big Idea

Co-ownership • tenants and employees as members

Co-production• shared priorities• working togetherChanged relationships and culture

Our Reference Points

• Community owned housing associations• Health, Social Care and Leisure mutuals• Social enterprise• Employee owned business • Traditional mutuals and retail co-

operatives• International experience

A new governance model

Members (tenants, employees)

Representative Body

Board of Directors(executive and non-executive)

Partnerorganisations

Our Values

Making a difference

• Tenant and employee dynamic• Member voice and influence• Membership and Corporate Strategy• New values• Co-operative approaches

Growing and developing membership• That reflects tenants & employees• Opportunities to shape RBH• Engaged membership• 3,500 tenant members, 500 staff

members

in 3 words:

in 3 words:

People

in 3 words:

People Succeeding

in 3 words:

People Succeeding Together

New Kids on the Block

Other Mutuals/Future Mutuals

With a number of other Councils considering mutual under stock options

Working with our new colleagues

Context: Housing Policy

Welfare Reform- Housing Benefit/Bedroom Tax-Universal Credit

Rent Policy: - CPI vs RPI

New Provision- Reduced Grant Spend- Reduce Grant Per Unit- “Affordable Rent” (80% of Market)- Rent Conversions

Housing Market Package November 1992 to March 1993£612 million of ‘new’ moneyEquated to a 40% increase in development programme.20,000 homes acquired and £1bn+ invested

Help To BuyApril 2013 toNovember 201438,052 SalesEquity Loans

Changing Times:

Changing Government: Same Issues

• More “Freedoms & Flexibilities” to do it yourself

• More planning reforms & new towns

• Austerity continues:

No commitment to extra funding for social housing except Liberal Democrats (and which party is facing meltdown)

• Parties of the left to reform/scrap Bedroom Tax

Changing face of Social Housing

• “Sweating Assets”

• Increased Rents, Reducing Grants

• Diversification

• Non-grant development

• Private Renting

• Partnerships & Mergers

Challenges facing Mutuals/Co-ops

• Diverse numbers and types:Community gatewaysCommunity land trustsDevelopment trustsHousing co-opsSelf build schemesTenant management organisationsTransfer mutuals

Challenges facing Mutuals/Co-ops

• Hard to speak with one voice• Hard to act in concert

• Many Co-ops developed in the 70s/80s/90s sat on high levels of equity and strong revenue streams

• BUT Sector developing too few new homes

How can we unlock those strengths to providemore housing ?

Which plays into Political Attitudes

• Small sector, minority interest

• Not against us, but not a priority for hard cash support

• In terms of social housing High subsidy: money and effort, low output

• For some Politicians this means…..

Not part of solution ? Must be part of the problem

Moving forward:

• Growth of new mutuals will grow sector in numbers, New development and, hopefully, influence as balance shifts from management to management & development

• CCH working with sector and partners on new development solutions: Unlocking loan finance through “Warehousing” borrowing & assets.