Why we are engaging with Fife Housing Association Ltd (Fife)
We are engaging with Fife about its development plans.
Fife has plans to grow through a programme of new homes for social rent and will receive significant public subsidy to help achieve this.
Fife recently developed a new business plan which it approved and sent to us with other supporting information, in February 2024.
What Fife must do
Fife must:
- send us details of its approach to development risk management and mitigation; the report(s) to the governing body/appropriate committee about its approach to risk management and mitigation and any further information we require about its business plan;
- send us an update on its development programme by 31 October 2024. This will include its latest report to the governing body/appropriate committee about development and details of the scale and tenure mix, timescales for delivery and any material delays or changes to the programme; and
- tell us if there are any material adverse changes to its development plans which might affect its financial position or reputation, in line with our notifiable events guidance.
What we will do
We will:
- review the business plan and supporting information;
- meet with Fife’s senior staff to discuss the business plan, supporting information and any risks to the organisation;
- review the development update and engage as necessary; and
- update our published engagement plan in the light of any material change to our planned engagement with Fife.
Regulatory returns
Fife must provide us with the following annual regulatory returns and alert us to notifiable events as appropriate:
- Annual Assurance Statement;
- audited financial statements and external auditor’s management letter;
- loan portfolio return;
- five year financial projections; and
- Annual Return on the Charter.
It should also notify us of any material changes to its Annual Assurance Statement, and any tenant and resident safety matter which has been reported to or is being investigated by the Health and Safety Executive or reports from regulatory or statutory authorities or insurance providers, relating to safety concerns.