RESIDENTS and company members recently voted for CHP to convert from a not-for-profit to a charitable company at its annual general meeting.
CHP’s main role, such as improving existing housing, building new affordable homes and providing housing services means that it already meets ‘charitable objective’ requirements.
In fact, approximately 75% of registered housing providers already have a charitable purpose, so the idea is tried and tested.
As highlighted by recent government announcements concerning local housing needs, CHP continues to provide affordable properties to local people. Because of this the company has sought ways to become even more financially efficient; thereby allowing it to invest funds into new and existing homes over the next 40 years.
If the application is approved by the Charities Commission and CHP’s regulator, the Tenant Services Authority, CHP will become a charity from 1stApril 2012.