£30m for New Housing As ALMO Takes Ownership of Council's Stock

The Housing Minister has announced a proposed transfer of 4,800 council homes into the full ownership of an ALMO. It is hoped the move will lead to up to £30 million being unlocked and invested in new homes for Gloucester - the first new social housing the area has seen since the 1980s. Gloucester City Homes, which has managed Gloucester City Council's homes since 2005, will take control of the housing stock as the council finally relinquishes all responsibility. Under the terms of the deal, by transferring the homes to GCH, the council will see its £50m in historic housing debt wiped out by the government. However, the transfer must now go to a tenants’ vote, which will ultimately decide if GCH takes complete control. Read more on the GovUK website.