Presentation by
Paul Bonnett
Managing Director
Iceni Homes Limited
For
In Small Supply - National Event for Smaller
Housing Providers
22nd May 2014
Who Are Iceni Homes?
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Joint Venture Company
Limited by shares
Iceni’s Share Holders: Colne Housing
Hundred Houses Society
Suffolk Housing Society
All partners have equal shares
Non charitable
Governance
Where Are Iceni Based/
Operational Areas
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Based in Bury St Edmunds with presence in
Cambridge and Colchester
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Operates across Norfolk, Suffolk, North Essex
and Cambridgeshire
Iceni’s Programme/Turnover
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Approx. 250 dwellings per annum
33 Schemes on site (2014)
Turnover £23.5 million (2014)
Key Legal Agreements
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Joint Venture Agreement
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Framework Development Agreement
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Services Agreement
What Individual Partners Do
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Set their own development strategy
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Receive HC and other grants
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Purchase Land
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Own and manage assets
What Iceni Does
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Iceni manages and clients Development Programmes
Iceni meets the objectives, priorities and targets as set out in
their Development Strategies
Agree with HAs which schemes/sites to pursue/acquire
Appraises, Procures, Manages
Bids on partners’ behalf for grant
HCA Audits on behalf of RPs
Technical Design Brief/Development Operational Guidelines
(D.O.G.)
Iceni’s Fee Structure
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Based on scheme size and type
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Fees are inclusive of expenses
They cover abortive work when schemes do not proceed
They cover the costs of Iceni undertaking other activities on
behalf of the HA members e.g. attending Local Authority HA
Forums etc.
Payment Arrangements
Iceni basically acts as the HA’s Development Team
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Benefits – Expertise & Efficiency
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Experience
Specialist Staff
Reduced Duplication
Economies of Scale
Resource allocation
Partner relationships
Benefits – Financial
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Tax savings e.g. VAT savings on consultant’s
fees
All profits returned to partner associations as Gift
Aid
Access to grant through partnership
Mutual Status
Benefits – Market
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Relationships and local knowledge
Access to the fruits of the table not the crumbs
Stakeholder relationships
New partners
Future - Market sale, market rent
The story so far…
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2000 homes completed
Mix of general needs, supported and specialist
housing, rural, s106, shared ownership, shared
equity and temporary housing (Empty Homes
Initiative)
HCA programme – grant accessed and programme
delivered
The story so far….
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Gift Aid - £1 million returned to sponsoring associations since
2005
Estimate for 2014 £250k
VAT total savings of circa £100K for sponsoring associations
each year
Mutual Status – Now agreed by HMRC
Delivery of 2008-11 and 2011-15 HCA Programmes
The Future for Iceni
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Bids to HCA for AHP 2015 – 2018
Market Sale/Market Rent for our HA partners
- New LLP
New Iceni Members?
Very positive future for Iceni
- Strong pipeline of schemes
- HA partners funding
- Approx. £250k per annum average
profit for the next 5 years