 Residents have rejected a proposal to transfer thousands of council homes to a newly formed housing association. Swindon Council had balloted 12,600 tenants in December asking them their thoughts on transferring the authority’s 10,500 homes to a housing association. The voting closed on 30 December and almost three quarters of respondents (72 per cent) said they were against the transfer. Turnout for the vote was at 66 per cent and the result now means that plans to create Swindon Housing Association to manage and take ownership of the council’s housing stock have been dropped. Russell Holland, Swindon Council member for housing, said: ‘Right from the start, the council’s view was that there were benefits to transfer, but that it was up to tenants to decide how to vote. ‘We worked hard to make sure that everyone got clear, factual information about the reasons for the proposal and what it meant for them. I’m delighted that so many people took the chance to have their say, and we will respect their decision.’ The council had wanted to transfer the stock as a way of negating the impact of £139 million of debt taken on under the new self financing finding arrangements. Officers have warned in the past that the additional debt charges would result in a £68 million capital shortfall in the first 10 years of the council landlord business plan. Bernie Brannan, director of housing at Swindon Council, said: ‘The extra borrowing we’ll have to take on under the new housing finance system will limit the amount of money the council has to spend on improving homes and services over the next ten years. ‘But we will of course continue to do our very best to provide the highest standards possible within the resources available to us. ‘We will keep tenants informed about future plans and are committed to carrying on our partnerships and work with local residents’ and community groups.’ |