The CoOp Project


		An exciting initiative Jacaranda Housing is an exciting initiative where seven existing housing co-operatives throughout South East Queensland are currently amalgamating into a new not-for-profit housing company. It is anticipated that it will be fully operational by 2009. It is like no other housing company in the region….. What makes us different What makes us different is that we have a long-standing co-operative model at our very core with extensive community links. When amalgamated, this wealth of social capital will be one of our greatest strengths. Our underpinning philosophy Our underpinning philosophy is to enhance the lives of our current diverse tenants and increase opportunities for additional members to join in response to the current housing crises. Who are we? The seven co-operatives are: Alpha Housing Company Bayside Housing Community Inner Western Suburbs Housing Collective Latin American Housing Company Limestone Independent Housing Company New Farm Housing Co-operative West End Housing Co-operative Citizen/Tenant Power Upon amalgamation, the combined number of members/tenants will be approximately 200. Growth Opportunities It is our intention that Jacaranda Housing, as a not-for-profit company, will increase growth opportunities of our housing stock, our business capacity, and our tenancy services through accessing a range of funding sources and developing joint ventures. Benefits of Amalgamation Jacaranda Housing will manage approximately 125 properties throughout South East Queensland. Benefits will include: Pursuing higher levels of efficiency and effectiveness as a housing provider; Enhancing our sustainability to offer secure affordable housing to members of the community who are unable to access suitable housing options through the private rental market or home ownership; Achieving critical organizational mass and maximizing economies of scale; Securing organizational and financial viability and sustainability; Maximizing the use of our current asset base; Complying and co-operating with the Department of Housing’s new directions in achieving one Social Housing System; Enhancing the social capital within the framework of the new entity; Embracing the new entity as a ‘cutting edge’ organisation that has unique features which makes us different and sets us apart from other housing companies in the region. Where did we get our funding? The project has been jointly funded by the seven participating co-operatives and the Department of Housing. Each co-operative has contributed an equal amount of funds towards the project. The Inner Western Suburbs Housing Collective Ltd has acted as the auspicing organisation on behalf of the seven participating co-operatives during this amalgamation process. A Memorandum of Understanding was signed by each of the co-operatives on 14 May 2007 outlining their intent of forming a joint, not for profit, social housing company. A grant from the Department of Housing (Qld Government) under the strategy for amalgamation of urban organisations was approved in September 2007. The proposal evolved from within the co-operative organisations through discussions, meetings and forums held over many years. The Alliance of Co-operative Housing Organisations (ACHO) was formed in June 1999 with the intention of improving and supporting the viability of co-operative housing. Support for the amalgamation of Brisbane housing co-operatives was formally received at a forum presented by ACHO in September 2005. A Gaming Grant Fund of $11,000 was also received by the auspicing organization in March 2006. A Steering Committee consisting of delegated representatives from New Farm Housing Co-operative, Inner Western Suburbs Housing Collective Ltd, Bayside Housing Community, Latin American Housing Company and Limestone Independent Housing was established in May 2006. In March 2007 the Minister of Housing, Robert Schwarten, gave an in-principle agreement to provide funding for the amalgamation project. At that time two additional housing co-ops, West End Housing Co-operative and Alpha Housing Company, agreed to join the amalgamation project. On 5 February 2008 the Project Director, Susan Ball, was appointed to oversee the project working closely with the Steering Committee and with Mandy Doon, Lawyer, from Community Link Australia. Both Mandy and Susan have extensive experience in working with the community sector, in particular, in establishing not-for-profit companies.