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Who Are Iceni Homes?

Presentation by Paul Bonnett Managing Director Iceni Homes Limited For In Small Supply - National Event for Smaller Housing Providers 22 nd May 2014. Who Are Iceni Homes?. Joint Venture Company Limited by shares Iceni’s Share Holders: Colne Housing Hundred Houses Society

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Who Are Iceni Homes?

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  1. Presentation byPaul BonnettManaging DirectorIceni Homes LimitedFor In Small Supply - National Event for Smaller Housing Providers22nd May 2014

  2. Who Are Iceni Homes? • Joint Venture Company • Limited by shares • Iceni’s Share Holders: Colne Housing Hundred Houses Society Suffolk Housing Society • All partners have equal shares • Non charitable • Governance

  3. Where Are Iceni Based/Operational Areas • Based in Bury St Edmunds with presence in Cambridge and Colchester • Operates across Norfolk, Suffolk, North Essex and Cambridgeshire

  4. Iceni’s Programme/Turnover • Approx. 250 dwellings per annum • 33 Schemes on site (2014) • Turnover £23.5 million (2014)

  5. Key Legal Agreements • Joint Venture Agreement • Framework Development Agreement • Services Agreement

  6. What Individual Partners Do • Set their own development strategy • Receive HC and other grants • Purchase Land • Own and manage assets

  7. What Iceni Does • Iceni manages and clients Development Programmes • Iceni meets the objectives, priorities and targets as set out in their Development Strategies • Agree with HAs which schemes/sites to pursue/acquire • Appraises, Procures, Manages • Bids on partners’ behalf for grant • HCA Audits on behalf of RPs • Technical Design Brief/Development Operational Guidelines (D.O.G.)

  8. Iceni’s Fee Structure • Based on scheme size and type • Fees are inclusive of expenses • They cover abortive work when schemes do not proceed • They cover the costs of Iceni undertaking other activities on behalf of the HA members e.g. attending Local Authority HA Forums etc. • Payment Arrangements • Iceni basically acts as the HA’s Development Team

  9. Benefits – Expertise & Efficiency • Experience • Specialist Staff • Reduced Duplication • Economies of Scale • Resource allocation • Partner relationships

  10. Benefits – Financial • Tax savings e.g. VAT savings on consultant’s fees • All profits returned to partner associations as Gift Aid • Access to grant through partnership • Mutual Status

  11. Benefits – Market • Relationships and local knowledge • Access to the fruits of the table not the crumbs • Stakeholder relationships • New partners • Future - Market sale, market rent

  12. The story so far… • 2000 homes completed • Mix of general needs, supported and specialist housing, rural, s106, shared ownership, shared equity and temporary housing (Empty Homes Initiative) • HCA programme – grant accessed and programme delivered

  13. The story so far…. • Gift Aid - £1 million returned to sponsoring associations since 2005 Estimate for 2014 £250k • VAT total savings of circa £100K for sponsoring associations each year • Mutual Status – Now agreed by HMRC • Delivery of 2008-11 and 2011-15 HCA Programmes

  14. The Future for Iceni • Bids to HCA for AHP 2015 – 2018 • Market Sale/Market Rent for our HA partners - New LLP • New Iceni Members? • Very positive future for Iceni - Strong pipeline of schemes - HA partners funding - Approx. £250k per annum average profit for the next 5 years

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