1. Eastbourne Homes Ltd – working in partnership Ian Fitzpatrick MD Eastbourne Homes Ltd Director Lewes and Eastbourne Council Director Asset Co.

2. Looking back – 2014 ish EHL successful ALMO
Decent Homes complete, good satisfaction
Management Agreement due up 2015
But
Housing Revenue Account under stress
Council facing significant funding reductions
ALMO at risk

3. Reviewing options
ALMO successful but realised had to adapt to new political/financial situation
Council needed help to tackle town wide issues
Needed to maintain standard and keep resident support

4. Board focus
Made brave ‘offer’ to protect services by moving back closer to the Council to deliver efficiencies
Sharing staff, offices, back office, technology
Critical EHL had to be seen as part of the solution to the wider issues facing Council

5. ‘Eastbourne Homes granted new 20-year Management Agreement’
Key to decision:
In Partnership
Resident support
Regeneration
Sharing offices/staff
Shared benefit

6. Housing & Economic Development
Mixed programme of directly delivered new housing and regeneration with a focus on a priority electoral Ward : Devonshire
£15m New Homes: 85 Affordable Rent, 15 sales and shared ownership
£6m - The Driving Devonshire Forward programme of neighbourhood level community-led regeneration

7. Direct Delivery New build Land acquisition Empty homes programme
Renovation (Seaside / Seaside Rd)
Public realm (Square / Park)

8. New Build Developments

9. Cross Subsidy

10. Renovation
1-5 Seaside

11. Other added value …

12. 2015 Eastbourne Housing Investment Company incorporated
HRA headroom maxed out
Political ambition to build more
Now £10m in residential and sites
£45m Programme of 240 by 2020

13. Objectives + Benefits
Income generation: delivers new income streams for the Council and EHL
Housing Delivery : sustained delivery and cross subsidy
Place Making: release of stalled sites, strategic interventions, control of focus of investment, type of delivery and use of income

15. Our journey Real learning curve
Commercial thinking v public sector rules!
Its complicated but not impossible - many hats, conflict of interest? finance, legal, Cabinet decisions, lending agreements, State Aid, approvals, SLA’s, employment etc., etc………

16. EHL - shared risks and shared rewards
Bringing in new skills and experience
Understands commercial v public sector rules (bridging the divide?)
Providing services to other Councils, Asset Co.’s
Stepping up to the next challenge – homeless + health economy
Board provides ‘checks and balance’ to ensure residents interests are protected