Rochdale to Create Largest Co-Operative

Rochdale Council’s ALMO has been given the green light by the housing minister to create England’s largest social housing co-operative after it proved it could raise finance from commercial lenders. Rochdale tenants are expected to vote on the proposed transfer of 13,700 homes to Rochdale Boroughwide Housing before the end of the year with the ALMO hoping the full transfer will be complete by the end of March 2012. The move was approved by Grant Shapps after RBH demonstrated to the Communities and Local Government department that it was able to raise the necessary finance - more than £100 million - from banks to fund up to 30 years of new building and maintenance work. Read more on Inside Housing.