Future Development Opportunities Key Development projects over the next five to ten years Agenda 6

Introduction  This presentation outlines the key development projects that HCHA has been considering. The Board are now asked to:  Consider and comment on the projects  Consider the risks  Agree that HCHA pursue these projects to further consider their viability  Develop the wider HCHA business plan

Background  Grant is reducing and will not form part some future developments  New Agenda from Central Government  Revenue funding and the benefits regime are changing  Local authorities are struggling to deliver and changing their approach,  New partnerships and locations will be needed as will new products (Rentplus)

Background cont’  The projects identified either build on existing strengths or are designed to help provide income or deliver new strategic objectives  To this end new strategic partners will be needed, including new partner authorities and other funders  We must build on our strengths and adapt to new ways of working.

Key Targets  Rentplus  Wolstenholme/Stanmore rectory  Other Church sites  Watkins House  Stock Transfers (L&Q Paradigm)  S106 agreements

Rentplus  Rentplus is a new product that uses private financing from pension funds to acquire new properties which are rented out to people who are seeking to purchase a property in the short, medium or long term. A presentation on the detail of Rentplus will be coming to the Board for final approval.  In development terms Rentplus does not require HCHA to use additional funding.

Wolstenholme  The possibility has arisen to work with the Church of England to acquire the rectory site adjoining Wolstenholme, this would allow HCHA to re-provide our existing scheme on the rectory site and thus move tenants from the existing building into a new purpose built site, we may consider a joint venture with the church.

Other Church Sites  The Church of England has also contacted HCHA regarding three additional sites,(one in Stanmore, one in Northolt and one near Northwick Park Hospital).  We are currently appraising these sites and will report back at the meeting

Watkins House  Watkins House is a poor quality extra care site owned and operated by Harrow Council.  Harrow have invited three associations put ideas forward, HCHA has put some ideas forward and LB Harrow are now evaluating these proposals.  Report attached

Stock Transfers(confidential)  HCHA has been approached by two large registered providers (L&Q and Paradigm) to consider stock transfer of extra care, sheltered and supported housing.  L&Q are asking for ideas regarding stock transfer of seven sheltered schemes in South Buckinghamshire  Paradigm are considering the future of their extra care and supported housing in Hillingdon.

S106  HCHA continues to bid for S106 projects (Sudbury Court Drive/Marsh Road)  However, in the future these should be targeted to work with other key objectives such as Rentplus

Risks  The risk of doing nothing (stagnation decline in opportunities)  New ideas/products in new locations (untested relationships)  New partners (untested partnerships)  All development has an element of risk

Decisions  Agree to working in new location (West London & surrounding Home Counties).  Agree to partner Rentplus (Board mtg in Feb)  Agree these are the development targets listed in this presentation

Conclusion  Range and mix of development projects should mitigate some risks  Not all these projects may succeed, constant evaluation needed  Resources and business plan need to be reviewed to ensure that the wider business is sustained and viable