Your readers may have wondered how 25 redundancies at James Butcher Housing Association would be able to help with a £75m funding shortfall (4 February, page 14).

The redundancies were very much a last resort to ensure running costs are contained within our revenue income during this year. The £75m figure is the cost of capital works needed to our properties over the next 30 years, including remodelling or redevelopment of some 980 bedsits in sheltered housing schemes.

The funding gap is, in reality, much smaller and something that we are looking to prospective partners to help us bridge as part of a group structure arrangement.

David Hucker, interim chief executive James Butcher Housing Association

Source

Housing Today