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Voluntary Transfer of Housing Stock

Request Description

Can you please provide

  1. The amount paid to the council in exchange for the large scale voluntary transfer of housing association homes and the date of the transfer
  2. The amount of this cash which remains in council reserves
Request Date3 July 2015
Requested byOrganisation
Released Date  

4 August 2015

  1. Date of transfer 18th March 2002. The gross capital receipt was £74,358,234 but there were costs of £13,503,609 offset against it so the net receipt was £60,854,625.
  2. Of the net receipt 75% was 'set aside' under the regulations in place at the time (£45,640,969) which is still held by the Council. The 25% usable receipt (£15,213,656) has been used as a source of funding for the capital programme to minimise external borrowing costs.