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Housing transformation programme full business case

Produced by the Housing (Infrastructure, Housing and Environment)
Authored by Housing and published on 04 Mar 2013
Prepared internally, no external cost

Summary

This full business case seeks approval for the establishment of a suitable delivery vehicle and funding mechanism for the management of States of Jersey social housing in Jersey.
 
The Housing Company will be a self-sustaining social housing service provider which is flexible and able to adapt to change with fully separate regulatory, policy and service functions.
 
The States of Jersey will transfer the current social housing stock, which has no debt burden, to the Housing Company for nil proceeds and the Housing Company will continue to deliver a significant annual return to the States of Jersey.
 
The proposed rent policy of 90% of market rents on new tenancies protects tenants in receipt of the housing component of Income Support and for tenants not in receipt of the housing component of Income Support it provides a balance between:
  • requiring those who can afford to pay more to do so
  • recognising that tenants have entered in to tenancy agreements and planned their finances on the basis of the prevailing rent levels​
Decent Homes will be achieved within 10 years and maintained thereafter, funded by a combination of an investment from the Currency Fund and the rent increases achieved from the proposed rent policy. The stock will also be improved to better meet the needs of Jersey’s changing population funded from additional income generated.

Download the full business case (size 1MB)
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