A new board will take over the running of Daventry and District Housing after the agreement of Daventry District Council.
Futures Housing, DDH’s parent group, will introduce a single 12 member board to manage all its homes in Daventry district, and in Derbyshire, along with its social enterprise, Futures Greenscape.
Futures originally had three main boards and 30 board members to cover its operating businesses
The company says the single board will improve the speed and efficiency of decision-making and flexibility of the business.
DDH will share the new board following a decision taken by Daventry District Council to approve a new working relationship with Futures. The changes will come into effect as soon as the legal technicalities are completed.
The company says the changes to the board are part of its plans to improve the way it works, help its customers, and build 1,000 new homes in the next five years.
The new-look board is chaired by Ian Toal. He said: “This marks the start of a truly exciting and optimistic time for Futures.
“The single board means decision-making across the group will be quicker and more efficient as well as making us far more flexible to embrace the opportunities and to meet the challenges ahead.”
The group also said it plans to use its surplus to borrow around £50 million in the next 12 months to invest in new homes.
Councillor Mike Warren, DDC’s portfolio holder for housing, said: “We welcome the new agreement with Futures Housing, which ensures that the interests of our residents continue to be met while helping to deliver additional affordable housing in our district.”
Lindsey Williams, Futures Housing Group’s Chief Executive, said: “We know the challenges are tough, but we are optimistic about our future and feel well placed to tackle them and to grow.”