One of England’s largest black and minority ethnic
housing associations has been placed on the regulator’s ‘watch list’ after a
£2.3 million grant allocation was withdrawn.
Tuntum Housing Association, which owns around 1,300 homes, is now the
sole English landlord on the list of organisations at risk of being downgraded
to a non-compliant ‘G3’ rating for governance. It currently has a ‘G2’ rating,
meaning it complies but needs to improve.
It is understood the regulator became concerned after the withdrawal of
grant funding by the investment arm of the HCA. Tuntum had been allocated £2.3 million through
the £100 million Empty Homes fund. However, it asked for a further £500,000 to deliver
the scheme. The HCA subsequently withdrew the entire allocation because it was
not convinced the scheme would be completed before the March 2015 deadline.
Read more on Inside Housing.
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