IDA results 2017 – Broadland Housing
Broadland Housing Association recently underwent Homes & Communities Agency (HCA) in-depth assessment. We are pleased to report that we have been graded as G1 for governance and V2 for viability.
The V2 represents a regrade for the Group, which was previously V1. It indicates that we are still compliant with HCA viability standards for registered providers, but that we have significantly increased our risk appetite and stretched our financial plans to deliver on our considerable development ambitions, while also looking after our existing properties and protecting services to our tenants.
“I’m pleased that the HCA recognised our compliance with their standards and particularly the strength of our governance arrangements. Since I joined the Board in April, I’ve been impressed with the Board’s rigorous approach to governance matters and the proactive way it goes about maintaining sound governance.”
Michael Newey, Group Chief Executive, commented:
“After several years of low-development delivery, in 2016 our board and executive team committed the organisation to a much larger programme to contribute to meeting the significant housing needs of families and individuals in Norfolk and north Suffolk. As a result, we have now committed plans to deliver 600 new affordable homes over the next 4 years, supported by the development and sale of 200 homes in the open market.”
Read about how the HCA regulates its standards.