Housing transformation programme full business case
Produced by the
Housing (The Cabinet Office)
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:
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)
gov.je