supporting community housing – how to do it blase lambert 6 th march 2014 supporting community...
Post on 31-Mar-2015
221 Views
Preview:
TRANSCRIPT
Supporting Community Supporting Community Housing – How To Do ItHousing – How To Do It
Blase LambertBlase Lambert66thth March 2014 March 2014
The Confederation ofCo-operative Housing
• The representative body for co-operative and mutual housing in England & Wales since 1992
• 180 member organisations • Aims and objectives:
Promote viable forms of co-operative, mutual & community led housing
Assist organisations to enhance governance & deliver excellent services
Provide networking opportunities
Commission on Co-operative & Mutual Housing
Models of Community Housing
•Ownership co-operatives•Custom (self) build•Management co-operatives•Co-housing•Community land trusts•Mutual home ownership
Sanford Housing Co-operative
• Built in 1970 in New Cross, South London
• 14 purpose built shared houses
• Carbon C60 project has reduced their carbon emissions by over 60%, using: Solar panels Biomass boilers Green training and
awareness
Community Self Build
Diggers Housing Co-op• Built in Brighton• Self build - built by the
members who live there
• Simple timber frame construction techniques
• Value of labour reduces the rent
• Environmentally sustainable homes
Leasehold Management
Redditch Co-operative Homes
• Partnership between Accord HA & Redditch Borough Council
• Financed & developed through an enabler which retains freehold
• Long lease to intermediary
• Shorter leases to 6 local management co-operatives
Key Stages• The initial members come together with an
idea; or a local authority / enabling developer decides they want to do something – who develops the vision?
• Building the group• Getting the right advice – where do we go?• Visiting existing schemes• Building the development partnership• Scoping the development proposal• Agreeing the legal structure• Getting the finance in place• Drawing up the plans and getting planning
permission• Building the scheme and moving in (sales &
lettings)• The long term sustainability
Key Issues• Why are you looking to do this?• What are you looking to develop?• New build or refurbishment• Rent, sales or shared ownership / equity share• Only housing or not• Have you got a site?• Is there a community group leading this?• Is the local authority supportive?• Self-build, community or enabling developer• Are there any assets involved or is it all debt /
grant driven?• What will be the tenure and land ownership
model?• What are the long term community
aspirations?
The Policy AgendaGovernment support for Community Led Housing through grants, loans & guarantees
Affordable Housing Programme Grant
Custom Build Revolving Fund
Community Right to Build
Rent to Buy, Help to Buy & Housing Guarantee Scheme
Becoming a Registered Provider• Detailed knowledge of governance required
• Preliminary stage – must be an English body, providing or intending to provide social housing & intend to meet the HCA criteria
• Detailed stage – compliance with the Regulatory Framework Compliance with the Financial Viability
Standard Meeting the Governance Standard Meeting the Value for Money & Rent
Standards Meeting the Consumer Standards Demonstrating a ‘Reasonable Path’ Intervention & ‘Serious Detriment’
Financing a Scheme The Community Land Trust Fund Private Finance – commercial loans (most
lenders now in the 5 – 7 year range; small number of specialists for small schemes over long term); bond financing; loanstock; private equity; long term institutional investment
Enabling Developers – private developer to take development & sales risk with units released to community group on turnkey basis; local authority borrowing headroom (access to Public Sector Loans Board); housing association levering in funds or guaranteeing scheme; housing co-operatives investing in schemes
Development Modelling Land or buildings purchase Site preparation – clearance, contamination, utilities
& access – surveyor? Architect to draw up plans – site area, number & size
of homes, tenure split Planning process, s106 & Community Infrastructure
Levy Build / refurbishment costs Non residential development – common house,
communal areas / facilities, garages & parking, roads & pathways, green & play areas
Mixed development – retail, office, community & leisure
Development Modelling Meterage build costs Community & governance development cost Professional fees at both pre development &
development phases Development financing requirement – net
borrowing requirement Financing interest rate Sources of income – personal equity, existing
assets, grants, loanstock, private finance, sales & rents
Local housing market data Rent levels & sales prices (uplift rates) by
unit / bedspace type Sales costs Legal status & tax considerations
Long Term Modelling Rent inflation rates Cost inflation rates Void and bad debt levels Annual financing cost Leverage & gearing Management & maintenance costs Common parts maintenance & servicing costs 25 year asset management plan with
component life cycle, cost & inflation assumptions
A costed 25 year financial plan for the scheme & debt balance modelling
top related