There were four options for managing Council housing that the Government wanted the Council and its tenants and leaseholders to consider to finance the Decent Homes project:
Council Controlled 'Arms Length' Management Company
The Council would have set up an Arms Length Management Organisation (ALMO) company to deliver its management services and improve homes to meet the Decent Homes target. Council homes would still have been owned by the Council.
Housing Association
The management and ownership of Council housing would be moved from Greenwich Council to a housing association. The housing association would borrow private money to improve homes to meet the Decent Homes target. Housing would no longer be owned by the Council.
Private Management Company
The government would have provided money through the Private Finance Initiative (PFI) to support partnerships between the public and private sectors. The Council would have entered into the PFI agreement with a private company to manage and improve homes to meet the Decent Homes Standard. Council homes would still have been owned by the Council.
Staying with the Council
This is the option that was selected by tenants and leaseholders, Greenwich Council retains full ownership and management of its homes. The Cabinet has agreed to provide funding to meet the Decent Homes target by 2010.