We have the highest grading for governance from our regulator and have a simple structure which gives the Group Board clear oversight over our one active subsidiary and joint venture.
Irwell Valley Developments (IVDL) is our one subsidiary company, set up to develop new properties on behalf of Irwell Valley Homes. IVDL and Irwell Valley Homes have an Intra Group Agreement in place, under which most of the policies and key documents for IVDL are provided by Irwell Valley Homes. In May 2021, IVDL formally adopted the NHF 2020 Code as their Code of Governance. Read more about IVDL and the homes we’re developing here.
Our subsidiary Board and Committee members are members of the Group Board as we believe this gives the best overview of risk and ensures that IVDL’s activities support our overall corporate objectives.
We continually review our structure so it offers the best services and opportunities for our customers.
The Irwell Valley Foundation is a £2 million investment fund that is overseen by a resident led panel that’s chaired by our resident Board Member. Every year we invest the dividends of the investment to support people with their personal development and wellbeing, plus initiatives that benefit the wider community. The fund is managed by Forever Manchester (as a hyper link) and dividends are released to IVH once applications are approved by the panel. Read more here
We are investors in Hive Homes, a joint venture (JV) formed by 10 housing associations from Greater Manchester and the Greater Manchester Combined Authority (GMCA). The JV aims to develop around 700 new homes for outright sale in Greater Manchester over 7 years. We invest in the JV venture via IVDL, alongside 9 other housing associations. Together own 80% of the JV, with 20% held by GMCA. IVDL does not have a controlling interest in Hive Homes, so it is not part of our group structure. Find out more here