Carbery Housing AGM�www.carberyhousing.eu

CHA AGM 30.06.2022

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Approval of Last Year’s AGM minutes:

Link to last year’s minutes

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Recording of AGM 2021: https://www.facebook.com/watch/?v=298769441903461 -

Chairperson's Report�2021-2022

CHA AGM 30.06.2022

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Our Condolences - Daniel O’Regan

Daniel, father of Dermot O’Regan, Director of CHA, died recently and was buried today.

Dermot is a Board Member and Founder of CHA and has been on the Board since 2001

The Board of Carbery Housing Association wishes to extend heartfelt condolences to Dermot, Susan and the O’Regan family on their loss.

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From Voluntary to Statutory Regulation

CHA is registered a company limited by guarantee with charitable status. The company is owned and managed by its Members

The AGM accepts nominations to the Board of Management, that will manage the work of the Association for the following year

From 2013 to 2021 CHA was signed up to the Housing Agency’s Voluntary Regulation Code.That means we voluntarily agreed to implement the Code of Governance for Approved Housing Bodies and the Financial Standard.

From 2022 CHA comes under the statutory regulation of the new Approved Housing Bodies Regulatory Authority (AHBRA). AHBRA has legally binding powers of supervision and enforcement over CHA (and all AHBs).

That means they can remove Directors and appoint Temporary Managers and take control, of stock and assets. . Loan and subsidy funding will also be dependent on regulatory status.

This new Agency has issued a revised new set of Standards and Procedures that will apply to all Approved Housing Bodies. CHA is “deemed to be registered” but has still to register formally with AHBRA

Challenges of Statutory Regulation

Under the new statutory regulations, CHA is expected to have a Board of Management that is fully aware and managing its activities and in control of the direction, assets and activities of the Association.

Board members therefore need a basic level of knowledge of the working of CHA and to be able hold their own in their dealings with AHBRA as well as other regulatory bodies, local authorities and project partners

CHA is expected to carry out its duties to a high professional standard. This includes development, works, repairs, financial management, housing management and maintenance, tenant liaison and engagement, and any projects it takes on (e.g EU Projects) undertaken by CHA.

Board Members are expected to be competent, with no conflicts of interest, to act professionally and to understand and supervise all key areas of CHA activities with the support of Staff.

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Board of Management and Directors

• Any Member may stand for election to the Board at the AGM or may be co-opted onto the Board during the year.
• Board Members are asked to complete a probationary period of 3 consecutive meetings, before they are ratified as Board members and their names passed on to the Companies Register.
• Some Board members have been voluntarily allocated responsibility for specific areas of work namely Development (Jose Ospina), Works and Repairs (formerly Ruairi Kay) and Membership (Tadgh Quill-Manley). The Operations Manager (Ana Ospina), is currently the only Staff member, and responsible for Housing Management, Cyclical and periodic maintenance and energy initiatives.
• At the end of this financial year CHA had 12 Directors.
• Officers during this financial year were Jose Ospina (Chair), Dee Power (until July 2021) Ian McNinch (until Sept 2021) (Secretary), Tadgh Quill-Manley (Treasurer, Chair of the Risk and Audit Subcommittee and Membership Secretary)

Networking and Affiliations

• Member of the Secretariat of the Cork County Council Public Participation Network (PPN) and has delegates on two County Council Strategic Policy Committees, Housing and Planning
• Members of the Irish Council for Social Housing, the REVES EU Network of Cities and regions of the Social Economy and the REEP Renewable Energy Partnership.
• We are a Sustainable Energy Community (SEC) registered with SEAI
• We are Full Partners in the EU Interreg North West Europe Project REDWoLF Project working with colleagues from 8 other EU countries
• Members are founders and on the Board of Green Skibbereen, that is setting up a Centre for Excellence in Climate Action (CECAS) at Myross Wood House, Leap, County Cork.

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Secretary's Report�2021-2022

CHA AGM 30.06.2022

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Governance

• Last year CHA received a satisfactory evaluation from the Housing Agency with some recommendations. These have now been implemented.

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• CHA will be making a full report to the Charities Regulator in July 2022 (as soon as Annual Account for the period are available).

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In 2021 we had a change of Secretary from Dee Power to Ian McNinch

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• This year we had another change of Secretary and addition of new Board Member Liz Wakefield.

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�Complying with Regulations�

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• From 2020 - 2021 Voluntary Regulation of AHBs was managed by the Housing Agency. CHA systematically met the following requirements:

- The Voluntary Regulation Code

- The Finance Standards

- The Governance Standard

- The Performance Standard

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• From 2022, CHA is required to register with a new regulatory authority AHBRA, and meet new Standards which we are currently reviewing.
• CHA reported to the Charities Regulatory Body in 2021 and is preparing to report again in July 2022.
• CHA has made all relevant filings with the Companies Registration Office and with the Residential Tenancies Board.

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Risk and RASC

• In 2019, we established RASC Committee that meets every quarter. This was a regulatory requirement of the Housing Agency Governance Code and is likely to continue being so.

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• Risks may be governance, financial, operational or reputational. This year was the RASC committee was chaired by Tadhg Quill-Manley who also maintained in a risk register. Major Risks encountered this year:

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• Access to Loan Funding
• Delays in procurement of properties
• Rising cost of repairs and availability of tradespeople

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• This year we had a special focus on cybersecurity and GDPR. We held an audit of CHA online systems. CHA also engaged both internally and with external contractors to tighten our security controls and ensure we are GDPR compliant.

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Engagement Report

CHA AGM 2022

30.06.22

Dr Mary Redmond Award

• Carbery Housing Association were presented a very special award at The Wheel's annual conference on the 1st of June 2022.

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• The Dr Mary Redmond Honorary Award is a national honour bestowed by The Wheel's board of directors on a person (or persons) who has made an extraordinary contribution to civil society in Ireland.

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• The award is named after Dr Mary Redmond, the late academic, lawyer and founder of The Wheel and the Irish Hospice Foundation.

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Keeping informed

• Listen to our chairperson Jose Ospina speak about all things Carbery Housing Association on two episodes (no. 6 + 13) of the ‘Voice of West Cork’ podcast here.

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• Our Operations Manager Ana creates blog posts and shares newsletters regularly. Please see our website’s ‘News’ section for blog and to subscribe!

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From blog post on recent RedWOLF trip to Nancy, France (June 2022)

Social Media

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• Last year we engaged with our community remotely due to COVID-19. We also used Facebook, Twitter and Linkedin to promote CHA’s work. We now have 530 Twitter followers, 106 Linkedin followers and 400+ Facebook followers…. Thank you!

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• Check us out @carberyhousing

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Treasurer’s Report�2020-2021

CHA AGM 30.06.2022

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KEY FINANCIAL ACTIVITY

• The past year (ended 30/9/2021) has been our most successful year to date, with 6 new purchases (3 more have been purchased in the months following September 2021), taking our stock to 22 homes, and repairs on properties totaling over € 45,000 at the time of most recent reports.
• The surplus for the last financial year amounts to €96,768, which is a 169 % increase on the preceding financial year.
• Our cash and cash equivalents for the past financial year stands at €153,329, which is an increase of 152% on the previous year. This shows a remarkable jump in the company’s liquidity.
• Our net assets from the report stand at €202,170, which is an increase of 92%, displaying a considerable strengthening of the company’s solvency.
• These accounts demonstrate continuing sustainable growth and will most likely bode well for the current and forthcoming financial years.

Development Delegate Report�2020-2021

CHA AGM30.06.2022

19

Development Delegate Role

Development activities are currently the responsibility of the Development Delegate (DD)

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The Delegate is currently Jose Ospina, who carries out property identification and procurement and securing of loan and CALF funding for purchases. All purchases and loan offers are approved in advance by the Board

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The Delegate is also responsible for identifying and securing relevant EU projects and EU grant funding which must be approved in advance by the Board

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The DD reports to the Board of CHA on Development in writing on a monthly basis.

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Development pipeline to date

2001 – CHA set up – new build proposals & participation in 3 EU projects

2012 – 2 properties leased from private owners

2013 – Joined Mortgages to Rent Programme

2014 – AIB bank agrees to loan financing

2016 – 1 home bought (AIB funding)

2017- 6 more homes brought (AIB Funding)

2018 – Housing Finance Agency agrees to loan funding.

2020 – 5 more properties bought (HFA funding)

2020 – Negotiations begin with Bank of Ireland for loan funding - EU funded RedWoLF project begins

2021 – 6 more properties bought (AIB and HFA funding) – Total 18 properties owned.

2022 – 3 additional properties purchased

2022-2023- 13 additional MTR properties in negotiation.Bids for 3 new EU Projects.

Property Procurement

In 2010 CHA secured its first two properties under 10 year leases from private owners, that were then offered to Cork County Council nominees

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From 2013 all new procurement have been property purchases, carried out out under the Mortgages to Rent Programme, on the basis of the CALF (Capital Assistance Loan Funding) funding and commercial loan funding

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The Association is ofer homes with distressed mortgages by the Housing Agency agrees purchase values and secures a standing loan (CALF) from the Council (20% of the cost) and a commercial loan ( 80% of the cost) from a loan agency. This loan is backed by a Payment and Availability Agreement and Fee paid by the local council to CHA.P&A Payment is equivalent to 92% of the market rent.

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Lenders to date have been the AIB Bank and the Housing Finance Agency. We are currently approaching both bodies again for additional loan funding. Other lenders (e.g BoI and Finance Ireland) have been approached but have not been appropriate or have been unwilling to lend

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We are on currently working on Registration with the Housing Finance Agency asa way of ensuring low interest loans funding but remain on the look-out for other private lenders with a view to extending our Programme beyond its current target of 40 homes

Barriers encountered to development

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CHA has faced recurring barriers in implementing its purchasing programme under Mortgages to Rent

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These include financial charges on Title, when the properties have been financed as Tenant Purchases or Affordable Homes part funded or subsidised by local Councils. In some cases charges have been waived by Councils or we have agreed to pay these charges.

There have also been delays due planning non-compliance and issues with Title Deeds (in one case the Deed has been lost).

Mars and Pepper Capital (lenders) have recently decided to withdraw number of properties (8) on the basis that we ar4e taking too long to complete. Unfortunately, as delays continue more could be lost.

We are working with the Department of Housing Mortgages to Rent Working Party to identify barriers to Mortgages to Rent.We are concern to find a solutions for these blockages.

Future Innovative Developments

CHA is exploring the development of an innovative new build projects, for example 6 homes built with timber frame in Ballydehob, West Cork with Brady Maillieux architects.

CHA is has agreed to explore a new Cost Rental model proposed by the Housing Agency that will allow the development of homes for households not eligible for social housing but unable to afford housing on the open market. Rents would be set at 75% of market rents, and tenancies would be advertised publicly.

We are also exploring the possibility of a small “turnkey” new project of 6 homes with a local developer for 6 social homes in Sherkin Island, Co.Cork

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Proposed European Projects

Heat Store (Interreg NWE) - Two Stage

Led by University of Caen. Developing “phase changing” materials for heat storage in domestic dwelling walls. PC materials will be embedded in soil if fibre cement walls. CHA is to build a Pilot 3 bedroom house with this. 60% grant funded. Could be a cost-rental property.

Impact First (Interreg NWE) - Two Stage

Led by Mytelen Development Organisation (Greece). Looking at how specific national or EU policies are developed and managed at a local level and how they could be improved. CHA would be working with SECAD looking at LEADER Programme

Hybes (Interreg NPA) - One Stage

Led by University of Norway. Looking at policies and solutions for decarbonisation. This will include Living Labs, energy monitoring and the RED WoLF project will be monitored as a Case Study in Decarbonisation.

Operations Manager’s Report

CHA AGM 2021

30.06.2022

Housing Management Headlines

• Number of tenants increased from 30 to 57 with purchase of 9 new homes since last year
• Total rents increased from €26,496.01 to €58,304
• Arrears decreased slightly from €2483.76 to €2319.13 on the same date a year ago
• Covid-19 continues to have knock-on effects on tenants’ incomes, as well as the rising cost of living, especially energy & fuel

Operations Manager (PT)

• Working hours increased from 2 to 3 days per week to cover increased workload due to new 9 houses purchased, still managing RED WoLF project (salary 60% funded by EU project)
• Role involves undertaking basic housing management duties such as keeping track of tenancies, rents and arrears, as well as organising repairs and energy efficiency measures
• Given the continuing growth in the number of tenancies that CHA is managing, the work of the OM is increasingly vital to the feasibility of the Association

Housing Management System

• CHA continues to use Tilt Affinity, a cloud-based Housing Management platform
• Helps with day-to-day monitoring and recording of management activities
• Can also calculate rents and produce management reports
• Helps increase capacity in line with growth
• Monthly subscription includes technical support

Energy Efficiency Initiatives 2021-22

• Better Energy Warmer Homes Scheme - SEAI initiative to offer free core retrofitting to households in receipt of certain welfare payments (2 homes retrofitted, 2 surveyed and awaiting installation this year)
• Better Energy Communities - In partnership with NCE Insulation and SE Systems, offering free core retrofitting (2 homes retrofitted, 2 more put forward for this year)
• RED WoLF - European project to install cutting-edge solar powered electric heating system in 4 CHA homes by end of 2022. Some delays have occurred due to Covid-19, so the project has been extended until September 2023.

RED WoLF Project Updates

• Recent full partner meeting in Nancy, France. First in-person meeting since 2020.
• Eurotech Renewables (Co.Monaghan) is our appointed contractor for the CHA pilot.
• Installation will begin in July 2022, system should be up and running by the Autumn, in time for the tenants to start using their heating. The system will be monitored over the Winter into 2023.
• Following a successful summer school in 2021, this activity will continue in 2022, to demonstrate the importance of students from all disciplines in tackling sustainability challenges. The summer school will take place entirely online in August 2022. Students will work in small groups to develop impactful projects, research or initiatives addressing challenges faced by the RED WoLF project. Email: redwolf@carberyhousing.eu for more information and to get involved.

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Repairs and Maintenance�

CHA AGM 30.06.2022

32

Building and Repair Works

• We currently own or lease 22 properties of varying ages
• Maintenance and repairs are broken down into 4 categories : Initial works, planned maintenance, emergency repairs and cyclical maintenance.
• Initial works : Identified pre-purchase surveys of all properties

Loan and CALF (Council standing loan) used to carry out initial works and is included in loan drawdown – increase substantially

• Planned maintenance : Non essential repairs and maintenance. Covered by our Sinking Fund
• Emergency/urgent repairs: Usually reported by the tenants. Minor works covered by current account
• Cyclical maintenance. Works that are required annually can be scheduled in advance. E.g boiler service

Works during 2020-2021

• Works on properties purchased prior to 2020 mostly completed by start of period
• Emergency and urgent maintenance and repairs as required (cost € 3,314.90)
• Initial major works on properties (4) purchased during 2020-2021 (cost € 18,932.99)
• Organised and supervised its first tenant-led renovation project, with material costs supplied by us and work carried out by residents (cost € 22,450)
• 2 homes have been fully retrofitted to a B2 standards by NCE Insulation and Systems (cost around € 30-50,000 per property)
• 2 homes have been approved for retrofitting under the Warmer Homes Scheme

(€ 15-25,000 per property)

• Inspection of all properties to be carried out every 4 year to identify new repair or maintenance needs
• Affinity software now used to schedule and record all maintenance and repairs

In 2021-2022

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CHA Tenant-Led Renovation Project - 2021/2

One of our tenants carried out a complete renovation of their home, funded by CHA. The tenant is a qualified builder so was able to carry out all of the works themselves, assisted by their partner.

House in Myrtleville, Cork - Full Scale Renovation on Self Build basis

Cottage built in 1950 Purchased by CHA in 2014

Quote and Contract:

Repair of Main Roof: € 9,800

Repair of Flat Roof Middle 4,500

Repair of Flat roof back

Prelims € 400

VAT 4,209

TOTAL QUOTED € 22,509

Commercial Estimate € 54,000

Myrtleville - Costs of Self- Renovation

Payments

Payment 1 Start of Contract (03.08.21) € 6,923.00

Payment 2 Midway (13.09.21) 6,923.00

Payment 3 Completion (20.09.21) 8,217.40

TOTAL PAID € 22,063.90

Election of Executive Committee

CHA AGM 2022

03.06.22

Board Members

Resigning this year:

• Ruairi Kay
• Ian McNinch
• Dierdre Power
• Jose Ospina

(standing again)

Existing Board Members

• Ruairi Kay
• Alan Sheerins
• Deirdre Power
• Jose Ospina
• David Simmonds
• Ian McNinch
• Alan Sheerins
• Dermot O’Regan
• Dan Boyle
• Alan Wiseman
• Tadgh Quill-Manley
• Liz Coakley Wakefield

Any Other Business

CHA AGM 2021

30.06.22

Join us! �Keep in touch...

• Fill in Membership form (www.carberyhousing.eu/getinvolved)
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• Join our mailing list
• Email us: office@carberyhousing.eu

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Thanks for joining us tonight!