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

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

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

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

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

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

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 £12,573,837 needed for major works (our estimated surplus is £31,158,096)

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

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

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

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