Vale Housing Association shareholders have agreed to become part of an alliance which will give it more influence and access to government funding for essential new homes. Last night the shareholders, including many tenants, approved a rule change which will enable the Association to join the Sovereign Housing Group in April next year.
The move will allow Vale to use the support of Sovereign Housing Group to build an increased programme of new homes, whilst Vale concentrate on providing excellent services at a local level. The Sovereign Housing Group currently own 16,000 homes and has a strong track record in providing new affordable homes. The alliance will result in more affordable homes being built for The Vale Housing Association in Oxfordshire.
Plans are also being put in place for The Vale Housing Association to consult tenants over take ownership of over 800 properties in Oxfordshire in 2008, currently owned by Sovereign Housing Association, part of the Sovereign Housing Group. These properties are closer to Vale Housing Association offices and residents will be able to access a greater range of local services.
Current Vale Housing Association residents will continue to receive the same services and deal with the same staff as now. The Association will continue to set rents and make decisions, together with their tenants, about how homes are managed. Chief Executive Mike Roberts commented:
” We will continue to provide the same high level of services to our existing tenants that we do now. This move will give the Association the back-up of a larger group, whilst we concentrate on front-line services such as tackling anti-social behaviour. ”
The next step is for the Housing Corporation, which regulates housing associations, to give formal approval for the move. If this goes ahead, The Vale Housing Association will join the Sovereign Housing Group in April 2007. Mike Roberts who has been Chief Executive since 1995 will then retire and Steve Russell will become the Association’s Managing Director.