why ecos?

Meeting Local Authority Housing Needs 

▪ At the top level this initiative offers the Council the  opportunity to reverse decades of loss of Council  housing stock through enhancing its ownership and  supply to meet local needs.  

▪ Specifically ECOS offers the Council: 

▪ Long term ownership of assets; ▪ Control over management, repair and  maintenance; ▪ Flexible use of assets to meet local  requirements; 

▪ Scope to build a portfolio of  accommodation capable of meeting long  term needs.  

▪ Ecos Living offers: 

▪ A model that can work for all partners  from a financial and economic point of  view; ▪ Appropriate sites that we either own, or  control, or can easily acquire; 

▪ Continuity for the Council in a strong and  transparent partnership; 

▪ Capacity to develop a rolling partnership  programme to develop suitable housing  products to meet local needs; 

▪ A track record of developing successful  projects at scale.  

• LA’s can utilise the local housing allowance (LHA) to fund the annual rental.  The rental will rise annually in line with an agreed inflation index. LA's can also  utilise expenditure on temporary & emergency Accommodation. 

• Utilisation of the asset for meeting temporary accommodation needs will not  only reduce LA expenditure but move families from unsuitable accommodation such as B&Bs and hostels. 

• LA’s can make flexible use of the asset to increase income at appropriate times. 

• LA’s will also benefit from a cap and collar of 1-4% to mitigate against  unexpected changes in annual rental.  

• The LA would undertake repair and maintenance of the building so that it maintains the value of an appreciating asset. 

• The LA would be responsible for management of the building to ensure that it meets needs and Council requirements.  

• There is scope to agree the fixing of the initial rent at LHA rates for the year  prior to the practical completion of a building, thereby building in a further financial buffer for the Council. 

• Ecos Living would undertake to build the development to meet Council  quality, configuration, and safety requirements.  

• There would be a clear focus on design and fit out to ensure future proofing