Bolton Tenants Vote for Stock Transfer

Bolton council tenants have voted to transfer their homes to a housing association. In an independent ballot, 76 per cent of tenants voted to transfer their homes, which are currently managed by ALMO Bolton at Home, out of council control. Bolton at Home will become a housing association responsible for spending around £124 million on Bolton’s homes and estates over the next five years. Under current rules on council finance, £288 million of housing debt would be written off, and the new landlord would invest £1.2 billion in its properties over the next 30 years. The council’s executive still has to approve the stock transfer plans before working out the terms with Bolton at Home. Read the full story on the Bolton Council website.