4.36 In parallel with initiatives to broaden housing choice through the introduction of owner occupied housing, the Council has transferred its housing stock to the Glasgow Housing Association (GHA), a City-wide body created specifically for this purpose. This is considered to be the only realistic mechanism for securing real improvements to the Councils housing stock. The GHA will be able to support public resources with private investment, using an approach not available to the Council under existing arrangements. Under the terms of the transfer, funding will be made available by the Scottish Executive to service the outstanding debt on Council owned housing stock.

4.37 The GHA aims to complete a comprehensive stock investment programme within ten years from the transfer date. Better quality, better maintained, socially rented stock will contribute towards addressing population loss. The creation of the GHA, therefore, support the aims of the Plan.

4.38 Stock improvement will need to be allied to environmental action and measures to achieve sustainable regeneration. Within Areas of Focus, and in partnership with the new GHA, the Council will support the delivery of sustainable regeneration through the production of Local Development Strategies.

The City Council will support the objectives of the Glasgow Housing Association through the delivery of Local Development Strategies.