Sentinel scores four green lights
October 26 2006 -
Sentinel Housing Association has scored four green lights in its latest Housing Corporation assessment.
The corporation found that Sentinel meets the expectations set out in the Regulatory Code in terms of financial viability.
The report stated: "The forecast indicates that Sentinel has adequate borrowing facilities in place to finance its development assumptions and has sufficient capacity to raise further long term finance when the need arises.
"Sentinel carried out a stock condition survey in 2004/05. The results are being used to inform future work plans, and to adjust the business plan to incorporate the additional expenditure identified in order for Sentinel to meet the Decent Homes Standard by 2010. Currently 90% of Sentinels stock meets the Standard."
The assessment also concluded that Sentinel is both properly governed and properly managed.
It said: "Sentinel is progressing work to meet the key milestones of the Housing Corporation's equality and diversity requirements, particularly with regard to governance and resident and community involvement."
In terms of Sentinel's development with corporation funding, the report concluded: "The association demonstrates a good performance by achieving or exceeding its annual targets, maintaining good progress against targets during the year and delivering quality housing that meets our standards.
"Sentinel is the lead partner in the Sappling Housing Partnership. For the period 2006/08, Sappling secured GBP35.2m to produce 773 homes under the National Affordable Housing Programme (NAHP). Sentinel is expected to deliver 181 units completion from their NAHP allocation of GBP8.6m for the allocation year 2006/08."
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