Ceredigion transfers with £48m Welsh Assembly support
Walestransfergap_fundingceredigion Ceredigion Council has transferred its 2,235 units to new RSL Tai Ceredigion HA, thanks to a 30-year, £48 million gap funding commitment from the Welsh Assembly Government and a £32.5 million facility from Barclays.
Tai Ceredigion aims to spend £136 million on its stock over its 30-year business plan, of which £40 million will be spent in the first five years.
The gap funding will be received over the life of the business plan, at £1.6 million a year.
Tai Ceredigion's new finance director and deputy chief executive is Katrina Michael, formerly of Mid-Wales HA.
The chair is local councillor Hag Harris, and chief executive is Steve Jones, formerly the independent chair of regeneration project Holyhead Forward.
58 per cent of tenants who voted were in support of the transfer; turnout was 70 per cent.
