Jephson & Raglan partnership plans progress
Partnership plans between Jephson and Raglan housing associations are moving forward with the formation of a new joint Board Designate Committee (BDC), announced today.
The BDC will enable the combined organisation (which does not yet legally exist) to begin to take shape, including making decisions on who will lead the new company and how it will operate. The BDC will be operational from February 2014 with a total of 10 members selected from the existing Jephson and Raglan Boards.
The appointment of the BDC marks a significant milestone in the talks to join the two organisations and is a clear indication of positive progress. Raglan Board Chair, George Blunden says: “We have spent a lot of time getting the groundwork right. We’ve completed consultation with our residents, stakeholders and lenders as well as a very thorough process of Due Diligence. We’re also working on the actions required to enable us to approach the HCA with a strong case for the partnership. We’ve
now reached the stage where there is a need for clear vision and direction to help shape the new organisation. The purpose of the Board Designate Committee will be to lead on decisions relating to the new combined Group. It’s an exciting time which will not be without challenges and our ultimate goal is for everyone to have the opportunity to have a place they can call home, particularly those who may be disadvantaged or vulnerable and whose needs are not met by the open market.”
The application to the HCA for consent to form a new combined Group is expected to be made around May/June. Both Jephson and Raglan Boards will remain operational and continue in their responsibilities for the current businesses until the merger is approved by the HCA. Jephson Board Chair, Michael Collins, says he’s pleased at the progress: “Both Boards have been working extremely hard to make the proposed partnership a reality. It will create one of the UK’s most significant social housing providers, both in terms of assets and geographical spread. There is an ever-growing need for good quality homes, pitched against an increasingly tough operating environment, and we believe a combined organisation will deliver real benefits for residents through a strategy of investment, growth and sustainability. My thanks go to all the Board members and staff across both Jephson and Raglan who are working so hard to make this happen.”
Meanwhile, Rosebery have announced that they are stepping down from talks to become part of a single housing association group formed by the proposed merger of Raglan and Jephson. The news follows a period of resident consultation and a review of the business case after initial talks began in June. While the outcome of the resident consultation was positive, the Rosebery Board have decided against pursuing the partnership further at this time. Anna Hammond, Rosebery Board Chair, said:
“After careful consideration we believe the outcome to be in the best interests of both residents and the business.”
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