Following our highly successful Fed Forum on Saturday, May 2nd, which featured a presentation and Q&A with Kathy Green M.R.I.C.S., we are pleased to provide an update on the progress of the co-op consortium.
Key Outcomes and Progress:
- Consortium Status: We confirm that COOP CONSORTIUM LTD has been formally incorporated and has received approval for registration with the OPS GLA Housing and Land Directorate. This grants the consortium on-line access to future engagement with the Greater London Authority’s (GLA) London Affordable Housing Programme (LSAHP).
- Initial Engagement: Our engagement with co-ops confirmed strong interest. At the Forum, it appeared that several co-ops could form the initial cohort, building on an identified capacity exceeding 150 homes.
- Next Steps Strategy: Since the identified schemes are not yet advanced enough to set firm grant assumptions, the programme’s Continuous Market Engagement (CME) route is the most suitable way forward for co-ops at this stage.
- Consortium Membership: The proposed initial joining fee for the consortium is £1,500 per organisation, which will cover initial costs.
For attendees and the wider membership, we are attaching the following key documents that were discussed at the Forum:
- Draft Members’ Agreement (Draft Consortium Contract): This agreement is a statement of goodwill and co-operation, setting out the relationship and responsibilities of consortium members.
- Process Map (Chart Outlining Next Steps): This chart outlines the consortium’s next steps and those of its members. (Click Image to expand)
We would like to wholeheartedly encourage more housing co-ops to join the consortium. The aim is to replicate the success of the Almshouse Consortium Ltd, which secured approximately £50 million in grant funding under the previous GLA/Homes England programmes.
London Co-ops Consortium Progress on LSAHP Programme
We are very pleased to provide an update on London Co-ops in relation to the Greater London Assembly’s London Affordable Housing Programme (LSAHP), which has just started and lasts for 10 years.
After several meetings between the Fed and the GLA, a COOP CONSORTIUM LTD has been formally incorporated, and we have received approval for registration with the OPS GLA Housing and Land Directorate (the Open Project System (OPS) is the Greater London Authority’s online grant and project management system, used by the GLA and its delivery partners to manage housing, land, and regeneration funding programmes). This gives the consortium formal access to future engagement with LSAHP.
Our engagement with housing co-operatives across London confirmed strong interest. While we have identified several potential schemes – we have identified capacity in excess of 150 homes right now – they are not yet advanced enough to set firm grant assumptions at this stage. Therefore, the programme’s Continuous Market Engagement (CME) route is currently the most suitable way forward for housing coops wishing to take part. We have a realistic prospect of supporting the delivery of more hundreds of homes over a 10-year period as more co-ops join and the schemes progress.