In conjunction with Eastbourne Borough Council’s housing company Cornerstone Assets provided commercial advice and support to Arun District Council for the establishment of a Local Housing Company.
We supported the Arun team to deliver a business case, business plan and pipeline programme for Cabinet approval which was achieved in February 2017. As part of our work we identified the key business objectives and strategic links to the Council’s Corporate Plan.
What we did
We reviewed the range of housing company options available and agreed criteria against which options were assessed. Alongside this, we conducted financial modelling on sample sites to test the viability of the company, risk and any sensitivity analyses for both the company and the Council.
We defined and set out proposed initial operational and governance arrangements for the new company. We also reviewed delivery and operating model options to incorporate analysis of initial funding mechanisms and capacity (HRA headroom vs other borrowing) and produced a detailed project plan setting out the key milestones and approval processes.