Response from our Chief Executive

Suggestion: Why Did Caldmore Housing ass , Stick 2 Million of Tenants Money in Iceland Back , instead of Using it to Inprove propetys , Sites they have ?

During 2008, we arranged a new major lending deal at very favourable rates of interest.  However, in order to get the money at this favourable rate we had to borrow all we planned to spend on capital projects over the next 5 years in one go.  We then re-invested the money that we did not need to spend immediately so that the interest we earned offset the interest we had to pay.  We never had “tenant’s money” available to us this is money we had borrowed in order to fund major works projects.  The money was invested in August 2008 using fixed term deposits with reputable banks that were given the maximum possible safety rating by the Government’s Financial Services Authority (FSA).  We did not put all of our money in one bank but £2M went to a Bank Known as Kaupthing, Singer & Friedlander – this is the Icelandic bank that was put into administration by the FSA in October 2008.

Way is that the Money was Not Used for fencing Gates on Caldmore Propetys ?

The whole purpose of borrowing the money was to fund major projects for the benefit of our residents but of the £4.8M we borrowed, £3.5M was kept back for future projects.  We are not allowed to use borrowed money for routine repairs & maintenance; it can only be spent on major works to provide new housing, to prolong the life of existing housing or on projects that will generate additional income sufficient to repay the debt.

Money should have been Used to Improve Servcie we get as Tenants , Not Stuck in a Bank !

As you can read from above, it was never planned that the money would get stuck

Also have Calmdore Housing Got ALL this 2 Million Back ?

No we have suffered a substantial loss

As Tenants also can Caldmore Ensure us Tenanst they have Got some of the Money Back from this Iceland Back ?

Yes we have so far received just over £400K from the administrators

It is No Use Saying Caldmore Housing Saying thay Have So Much Back With out Prove to Us Tenants , Beacuse l Feel and Talking to Other Tenants we Feel Caldmore will Say they Got so Much Back , But will Say that to Cover Want they have lost and save the Embrassemnt and Anger they May Get from Tenants !
So Will Caldmore Prove they Got the 2 Million Back or What ever was Given Back ?

All of our accounts for 2008/09 have been externally audited and are now a matter of public record.  We have never tried to hide any of this.

Also Can Caldmore Making better Decissions About Rent we Pay and Monies Given to Ch , Rather Than Just Stick our MONIES in the Back !

We have been borrowing and re-investing funds for many years and this is the first time we have been caught out by the collapse of any bank, never mind one with a maximum credit rating from the FSA.  If we had failed to re-invest the funds, Caldmore would have needed to find additional money to pay the loan interest.  We can understand the anger – we certainly felt it ourselves.  This recession has claimed many casualties regardless of the care that was taken at the time.

 Let Tenants Know Where our Monies Goes !

This has never been a secret – everything we do is subject to resident scrutiny

Also Can Caldmore Housing Confirm if it is True will the Caldmore Offices in Caldmore Green be Moving Else Where ?

We have no idea where this suggestion has come from.  There are no plans to move from our current offices at Caldmore Green – In fact we are likely to add to the customer facing teams that are based here

Response from our Director

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

With regard to the carnival  we were delighted to be able to announce earlier in the year that a local committee (Caldmore Village Festival Committee) had been formed and was developing this into a 3 day event which would include a carnival parade.  The committee, which is independent of Caldmore, decided to move the date of this from October to May and so the first of these 3 day events will be in May 2010.  We fully supported this decision and the Caldmore Village Festival Committee has been promoting this over the last few months.  

 

Meanwhile we have tried to make clear that we had only organised the carnival in the past and that May Festival is a new and exciting development which should attract more people than the carnival has in the past - not least because it will be more widely promoted.  However it is understandable that there may have been some confusing and we are sorry if this has led to disappointment. 

 

With regard to the flags, this was an event organised by us on behalf of the Festival Committee.  All the traders who displayed a flag were those who wanted to support the idea of brightening up the area, thereby encouraging more people to come into Caldmore to spend their money and challenging the myth that Caldmore is not a good place to be.  You will of course recall us explaining this when we visited your shop. 

 

We were not aware that any traders were unhappy with the flags they were displaying or had changed their view.  But we did receive many requests for the flags to stay up permanently, and in fact many traders who did not have a flag have now asked for one and some who did have a flag have asked for another, when this event is repeated.  We also understood that the event was supported by the local traders association.  However, we fully accept that an event of this nature may not necessarily get the full support of local people, whether traders or residents.  But we have seen this work successfully elsewhere where the impact on local trade and the community has been very positive and hope that this and similar events will have the same impact on Caldmore. 

 

Thank you for taking the time to comment, as any feedback is useful.  If you have any ideas for brightening up Caldmore and improving the image of the area we'd be pleased to discuss them with you.  Contact Margot Lambert on 01922 728201 or margot.lambert@caldmorehousing.co.uk. 

Response from our Chief Executive

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23/4/09 - "We received a suggestion via our suggestion box and it was just a website address that didnt look genuine."

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Response from our Chief Executive

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Response from our Chief Executive