SHOULD RIVERSIDE NOW LOSE CHARITABLE STATUS?

Carol Matthews

and a £100 million

housing storm

There is little  sympathy or understanding for Carol Matthews (left) as  her organisation faces the  next four years with  a £100 million loss.

The Chief Executive of Riverside Housing Association says  the £100 million is a shock. It  is  the result of  the housing storm  just unleashed by the Government.

“I wish I could say that I predicted  that storm but I would be fibbing,” she adds in an article in the housing  weekly magazine, Inside Housing.

The government  wants more home ownership and at the same time wants  deep welfare cuts, partly through  cutting  rents of social housing.

“That’s why we are now facing the challenge of a simultaneous assault on our assets, through the extension of Right to Buy discounts, and on our revenue”, she says.

Ms Matthews` article does not reveal the size of that challenge. But the figure of £100 million was revealed at a Riverside conference at the Crown Plaza Hotel in Chester this week attended by 300 tenants and leaseholders from all over the country.

The article by Ms Matthews also fails to reveal Riverside`s other big worry, its possible loss of charitable status as a result of the Government`s housing storm.That loss would result in an additional dramatic  drop in income  of many more millions of pounds.

The possible loss of charitable status was another  big talking point at the Crown Plaza conference.

Tenants and leaseholders showed little sympathy or understanding for the giant Riverside organisation which owns 50,000 homes and  is now in fact  principally a property development company, every year amassing increasing surpluses (profits)  from its operations.

Tenants and leaseholders were asking: Why  is a property development company given charitable status?

Tenants and leaseholders were also  wanting to know how   Riverside will cope with the present storm? The answer at the Crown Plaza appeared to be  drastic cuts in expenditure and  a much slimmed down Riverside organisation.

CarlisleTenants` and Residents` Federation says that drastic cuts should start with the costs of  the Crown Plaza conference where some delegates described Riverside hospitality as lavish with  an abundance of Riverside-inscribed   goodies on offer, such as pens and key rings.

Expenses  also were lavish at the Crown Plaza with some delegates returning home  with a good profit on the day.

Amazingly, that profit in some cases was up to £200.

CarlisleTenants` and Residents` Federation publishes this blog. Information about the Federation is available on 01228 522277 or 01228 532803.

at 07:29