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Taking More Contro l

This document discusses the four options assessed by the board for the future management of Roupell Park and highlights the benefits and risks of self-financing. It outlines the need for a business plan, the continuity of being a council tenant, and the potential for greater control over services and investments. While nothing has been decided, further investigation into self-financing is being considered.

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Taking More Contro l

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  1. Taking More Control OPTIONS FOR FUTURE MANAGEMENT OF ROUPELL PARK

  2. BACKGROUND • Business Plan • Board assessed 4 options • Do nothing • Self Financing • Stock transfer to stand alone HA • Stock Transfer to an existing HA. • Agreed to take forward further investigation of Self Financing

  3. NOTHING IS DECIDED! • Series of stages • Can stop at any stage • Will need final agreement of Council

  4. SELF FINANCING – WHAT IT DOESN’T CHANGE! • Council owns estate • You remain a Council Tenant or Leaseholder • You keep your Secure Tenancy • The Council sets rents • We remain a Resident Management Organisation • We would hold a continuation ballots

  5. WHAT IS SELF FINANCING • At the moment the Council collect all rent and service charges and pay an allowance • With Self financing we keep all rent and service charges • We take on all roles and responsibilities including major repairs • We have greater choice as to how we deliver services • Accountable to Council • Accountable to you

  6. How do we afford it NOW • Current allowance is £1,322,125. • Assumed allowance in 2047 £3,368,164 • Cumulative surplus over period of plan £8,660,380 SELF FINANCING • Assumed income 2019 £2,934,392 • Assumed Income 2047 £7,625,988 • Cumulative surplus over period of plan £31,158,096

  7. PLANNING FOR THE FUTURE • Stock Condition Survey • Review every 5 years • Tells us what we need to spend and when and how much • 30 year business plan • Estimate £12,573,837needed for major works (our estimated surplus is £31,158,096)

  8. BENEFITS • We know what needs to be done and when • We know how much work will cost • Leaseholders know future costs and can budget • You help to draw up the specification of works • Residents can choose the contractors • We can ensure that necessary work is done • We can deliver the services you want and can tailor them to our needs

  9. RISKS • Poor Planning • Poor Management • Increased costs • Reduced surpluses Mitigation • Ongoing Council oversight and ownership • Independent Board members • Accountability • Continuation Ballot

  10. WHAT HAPPENS NEXT • Drop in sessions – 16/17 October • Further newsletters and flyers • Door knocking by Board • Test of Opinion – from 21 October • If +ve discussions with Council • Detailed business planning • Final presentation of plans to Council for Approval • If going forward looking for new arrangements in April 2020

  11. CONCLUSION • Nothing is decided • Ownership remains with Council • Remain tenants and leaseholders of Council • We have more control • We can plan properly for future investment • We ensure you know what is happening, when and how much it will cost • You decide

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