Magazine article Public Finance

Councils Upgrade Homes Via Almos or Transfers

Magazine article Public Finance

Councils Upgrade Homes Via Almos or Transfers

Article excerpt

More than 50 local authorities have submitted bids to meet the decent homes target through a stock transfer or by setting up an arm's-length company.

A total of 49 transfer proposals from 38 different councils were received by the Department for Communities and Local Government before the closing date at the end of last month. Sixteen councils wish to set up arm's-length management organisations, including five that have also drawn up transfer proposals.

About half the Almo bids came from London councils, including Enfield, Haringey, Lambeth, Lewisham and Redbridge.

Blackpool, North East Derbyshire and Salford also hope to join the sixth and final round of Almos, due to be confirmed this autumn.

Some of the councils wishing to transfer their stock to a housing association will require gap funding because of the poor condition of their properties. …

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