History and Context

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• History and Context

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Stock Transfer - Range of Challenges
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Delivering Transfer Promises
Promise Progress
Rent Guarantee 5 years RPI 1 Rents kept within guarantee
Homes will be improved Over 20,000 homes fully modernised
Secure neighbourhoods Partnerships and dedicated teams to deliver safe, secure neighbourhoods
Tenant Participation Nearly 700 tenants directly involved in shaping the service
Key tenancy rights protected Rights protected with over 3,800 Right to Buys exercised
Service Improvements Comprehensive improvement programme call centre, office refurbishments, on-line services
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So Why Change to Gentoo?

• Threats
• Investment Plan
• Maintenance Reductions
• RTBs
• Employment
• Opportunities
• Renewal Plan
• Inherent Business Capacity
• Board Support
• Window of Opportunity

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Structuring for the Future
Gentoo Group
Finance Resources New Business
Development Business Improvement and
Strategy Environment Customer agenda
Gentoo Construction
Gentoo Homes
Gentoo Ventures
Gentoo Sunderland
Gentoo Living
Commercial Construction Domestic
Construction Modernisation Central maintenance QS
and consultancy
New Home development Renewal Mixed tenure
Development for sale Investment brokering Estates
and property management
Housing management services Customer
service Repairs service
Care and Support Social Investment Regeneration Co
mmunity Enterprise Regeneration
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The Investment Plan

• 350 million funding to modernise homes and
  spending over 1 million a week
• From 80 modernisations per year before transfer
  to 3,000 per year since transfer over 22,000
  now completed
• Exceeding the Government's Decent Homes Standard
  with a wide range of improvements to existing
  homes
• Extensive customer consultation prior to work
  beginning and high levels of customer
  satisfaction with completed work

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THE RENEWAL PLAN

• Tackling unpopular areas of housing through
  demolition and new build aim is to create
  sustainable mixed communities
• Benefits of mixed tenure development
• 10 Year Programme began in 2003 but subject to
  regular review
• 440 Million
• 436 Acquisitions
• 3930 Demolitions
• 3604 New Homes
• 1811 Rent
• 1791 Sale

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SOCIAL INVESTMENT

• Many activities across the City carried out under
  the banner of social investment many have
  been responses to opportunities rather than a
  strategic approach
• Profits from subsidiaries are re-invested into
  the communities in which the Group works
• Delivered predominantly by Gentoo Sunderland and
  Gentoo Living teams with 1,700 staff and 98
  neighbourhoods can be difficult to co-ordinate,
  monitor and evaluate
• Focus on making neighbourhoods stronger Gentoo
  is sponsoring Academy360 in Pennywell to improve
  educational attainment in a deprived area
• Developing a Corporate Social Responsibility
  database and will be introducing an impact
  assessment process (SAA/SROI) in 2009.