Carbery Housing AGM

Year 2022-2023�www.carberyhousing.eu

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02.07.2024

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Approval of last year’s AGM Minutes:

AGM Minutes 2023

Chairperson's Report

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CHA AGM 02.07.2024

3

CHA in 2022-23

• CHA is registered a company limited by guarantee with charitable status. It is also a Tier 2 AHB (Authorised Housing Body). The company is owned and managed by its Board of Directors and ordinary members.
• At the end of the financial year CHA had 9 Directors. One co-opted member joined the board in 2023.

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• The Operations Manager is currently our only Staff member, on a part time basis, and is responsible for housing management, cyclical and periodic maintenance and energy initiatives.

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• Officers during this financial year were Jose Ospina (Chair), Ana Ospina (Secretary), Tadgh Quill-Manley (Treasurer, Membership Secretary and RASC Chair).
• From February 2022 CHA has come under the statutory regulation of the Approved Housing Bodies Regulatory Authority (AHBRA) that has been given legally binding powers of supervision and enforcement over all Approved Housing Bodies.

Networking and Affiliations

In pursuit of networking, CHA are:

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• Members of the PPN Secretariat of the Cork County Council and have elected delegates on the Cork County Council Housing and Planning Strategic Policy Committees (SPCs)

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• Members of the Irish Council for Social Housing and have an elected delegate on the ICSH Board.

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• Members of The Wheel Community Organisations Network

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• Members of the EU REVES Network of Cities and regions of the Social Economy and the REEP Renewable Energy Partnership.

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• A Sustainable Energy Community (SEC) registered with SEAI.

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• Members of the REEP Renewable Energy, Energy Efficiency Partnership, and international network promoting sustainable energy at an international level.

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Secretary's Report�

CHA AGM 02.07.2024

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Governance

• CHA makes Annual Reports to AHBRA and the Charities Regulator.

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• It is possible that we may have an Assessment Visits this year or early next year.

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• As part of our loan agreements with AIB, the bank also holds a yearly compliance audit of our financial activities.

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Risk and RASC

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RASC (Risk and Audit Subcommittees) was established in 2019 and currently meets every 2 months. Risks reviewed may be governance, financial, operational or reputational. RASC is currently chaired by Tadhg Quill-Manley, who also maintained a Risk Register.

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• Continuing risks encountered this year:

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• Restricted access to Loan Funding
• Multiple obstacles and delays in procurement of properties
• Rising cost of repairs and limited availability of tradespeople

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• In 2022-23 RASC encouraged the purchase of the M3Vision Asset Management Software that allows CHA to better monitor and manage our assets and improvements and repairs carried out.

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Engagement Report

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AGM 02.07.24

Keeping informed

• CHA and the RED WoLF project were featured in local and national press several times in the year.

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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

FEEL Project Meeting (March 2024)

Social Media

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• CHA uses Facebook and Linkedin to promote its work. We now have 294 Linkedin followers and 443 Facebook followers…. Thank you!

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• Check us out @carberyhousing

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Awards

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In 2023, CHA was honoured to receive 3 awards:

• Cork Environmental Forum

In December 2023, Frank O'Connor (middle), Anois, presented this award under the Community & Voluntary Category to Carbery Housing Association at Nano Nagle Place, Cork city.

• #OurEUStory

In November 2023, CHA was honoured to be recognised with third prize in the #OurEUStory awards from The Wheel for the RED WoLF Project at the RDS Concert Hall in Dublin.

• ICSH Allianz Community Housing Awards

In October 2023, CHA was delighted to be awarded at this biennial ceremony by the Irish Council for Social Housing under the category of Leading the Energy Transition at their annual conference at the Clayton Whites Hotel in Wexford.

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Treasurer’s Report

CHA AGM 02.07.2024

13

KEY FINANCIAL ACTIVITY

• Audited accounts during the year ended 30/9/2023:
• The surplus for the last full financial year (30/9/23) amounts to €139,598, a marginal increase of €1358 over the previous year.
• Our cash at bank and hand for the past financial year (30.9/23) stands at €157,234, a large increase on the sum of €119,431 for the 2022 equivalent. This shows a strong measure of the company’s liquidity, relative to its size.
• Our net assets from the report for 2023 stands at €479,828, a figure much greater than the 2022 sum of €340,230 and therefore 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.
• The latest draft management accounts for 2024, dated 31/03/24, state that CHA has already received €181,568 as income, with an estimated surplus of €39,856.

Development Report�

CHA AGM 02.07.2024

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Development Delegate Role

The CHA Development Programme is managed by the Development Delegate (DD), currently Jose Ospina, with support from the Operations Manager and Works Delegate.

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The work mainly involves identifying and securing potential properties, sites and development projects for purchase under the Mortgages to Rents programme and securing of loan and CALF funding for purchases as required .

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Also instructing surveyors and architects as required and liaising with funding bodies, mortgage holders, the Housing Agency, the local Council, and landowners and developers for “turnkey projects” as required (Sherkin Island)

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All purchases, and and loan offers must be approved in advance by the Board

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The DD is also responsible for identifying and securing relevant EU projects and EU grant funding, and writing bids and negotiating CHA’s partnership in Bids made by other agencies Participation in EU projects must be approved in advance by the Board

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The DD reports to the Board of CHA in writing on a monthly basis on projects, progress, opportunities and risks in Development.

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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 – CHA approved by Housing Agency for the Mortgages to Rent Programme

2014 – AIB Bank (Skibbereen) agrees to loan financing for CHA

2016 – First home bought (AIB funding)

2017- Six more programme homes brought (AIB Funding)

2018 – Housing Finance Agency agrees to loan funding.

2020 – Five more homes bought (HFA funding)

2020 – EU funded RedWoLF project begins

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

2022 – Three more homes bought (AIB funding) - Total 21 properties owned

2023- HFA loan funding secured for 8 additional MTR homes (6 remaining now in conveyancing)

2023-24 - 6 new properties allocated to CHA under Mortgages to Rent projects. 3 offers made, one accepted.

2023-24 – 6-unit turnkey new build development on Sherkin Island agreed with Cork Co Co,

2024- M3 Vision Asset management system and software adopted.

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New Housing Proposals

• CHA is working together with Prospec Developments and Fuinneamh Workshop Architects in the development of a turnkey new build project for 6 x 2 and 3 bedroom homes on Sherkin island. The Project is currently in planning and if approved will go onto construction.
• On completion the project will be allocated to local people on the Cork County Council housing list for the Island. The project is currently seeking planning approval.
• If all developments in the pipeline go through. We have almost reached the limit of our borrowing capacity with HFA.
• Given stricter landing requirements by private banks, we have been turned down for loan finance by AIB, BoI and the Credit Unions.
• The attached schedule shows that we only have a remaining margin of €573,000 for a additional small scheme.

Going Forward

• To continue developing social housing it has now become essential for CHA to register with the Housing Finance Agency
• The Board will have to develop, agree and produce a more detailed 30 year business plan explaining our development plans and the funding we think it requires, and the source
• This plan will also need to justify the unique necessity for our works, and flag up our role as a Cork regions AHB based on the local community.
• The Plan should also clearly define where we are intending to develop, what and why (e.g. Cork City and County, the Islands, Kerry, etc.)
• This is a KEY TASK for the new Board

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Completed and proposed European Projects

• RedWoLF (2019-2023)

4 year Interreg NWE Project which installed PV panels smart meters, storage heaters and AI-based controls 4 CHA homes.

• Easier (2024-2027)

Horizon Europe proposal develop a user friendly system for internal insulation. One CHA property has been selected as one of the location for the Pilots o the technology. We should know outcome by July 2024

• RED WoLVES (2025-2028)

New Interreg NWE Proposal aiming to build on Red Wolves and combine different sources of renewable energy and a community energy management system for Sherkin Island.

• Encores

New Interreg NWE Proposal aiming seeking to develop Energy Communities with renewable energy in different EU countries, including Sherkin Island, Ireland.

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Operations Manager’s Report

CHA AGM 2024

02.07.2023

Operations Manager (PT)

• Working hours continued at 3 days per week
• 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

Housing Management Headlines

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• Total rents increased from €80,357 to €85,836
• Arrears decreased slightly from €2422.20 to €1066.08 at the end of 2023
• In March 2023, we carried out a tenant satisfaction survey. 10 of the tenants responded and the results were very good overall. 7 out of 10 said they were very happy with the customer service they receive from us. The tenants’ ability to contact CHA was rated highly too. CHA’s communication with tenants was rated well, with some room for improvement in relation to repairs reponses. We noted that levels of engagement with our online media was a bit on the low side, and this is something we have endeavoured to improve in 2023-24.
• The rising cost of living continues to affect tenants’ incomes, especially energy & fuel

Tenant Satisfaction Survey

Housing Management Software

• 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
• In 2024 we started using M3Vision’s Asset Management Software, which will dovetail with our existing Affinity service

Energy Efficiency Initiatives 2022-23

• CHA continues to implement its SEAI sponsored Energy Masterplan drawn up in 2010, which proposed the retrofit of all its properties to Near Zero Energy Standards.
• In 2022-23, CHA had the RED WoLF low-carbon heating system installed in four of our homes with help from Interreg North West Europe. This brings the total number of houses retrofitted using national and European funding to 9.
• From 2024 onwards, CHA plans to avail of the new low-interest loans from PTSB to retrofit 3 more houses, whilst also utilising SEAI funding

RED Wolf Project Completed

• The RED WoLF project was completed in September 2023. Extensive adjustments to the heating systems of four of our houses have been carried out. Tenants in these houses can now store solar energy in batteries, water heaters or sell excess energy back to the grid.
• The results of this innovative project are now being monitored by CHA and RED Wolf Project Partners, using real time energy production and consumption data transmitted via the mobile phone network.
• CHA plans to replicate the system in future developments, subject to funding approval
• Unfortunately the rollout of this system coincided with very high electricity costs. This - along with several installation errors and combined with the erratic initial performance of the storage heaters - led to large bills for some tenants.

Repairs and Maintenance�

CHA AGM 02.07.2024

30

Building and Repair Works

• We currently own or lease 21 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 2022-2023

• Use of Affinity software to schedule and record maintenance and repairs work has been fully implemented, input backlogs from the transition period have been eliminated.
• Planned initial works on properties purchased before 2023 have been completed and it appears that incidental or unanticipated repairs to our new properties have peaked, after a busy period in the winter of 2022/2023
• In the financial year 2022 we spent €29,259 on repairs, a decrease from 2021’s figure of €44,725 . This was due to the fact that fewer properties were purchased.
• For the calendar year 2023, a repairs budget of €74,000 was set and a system created to document completed, current and anticipated repairs/maintenance. Examples of anticipated repairs include electrical inspections and expenses arising from periodic council inspections. Current projections indicate that approximately €22,000 of the above figure will remain at the end of the calendar year.

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Election of Executive Committee

CHA AGM 2024

02.07.24

Board Members

Resigning this year:

• Please volunteer at meeting

(all may stand again)

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Proposed new members:

• Orla Ryan
• Joe O’Brien

Existing Board Members

• Alan Sheerins
• Jose Ospina
• David Simmonds
• Dermot O’Regan
• Dan Boyle
• Alan Wiseman
• Tadgh Quill-Manley
• Liz Coakley Wakefield
• Liam Loftus
• Karl Diskin

Any Other Business

CHA AGM 2024

02.07.24

Join us! �Keep in touch...

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

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Thanks for joining us tonight!