O

Objectives
Definition: These are the results the organisation is aiming for to achieve its vision

Option Appraisals
Definition: Councils need to assess the level and type of disrepair within their stock, compare this to the decent homes standard and work out how much it will cost to bring homes up to standard. They also need to assess the options available for them to raise the necessary investment.

There are several housing investment options that Councils can to look at: -

1. Transfer ownership of some or all of their housing stock to a Registered Social Landlord or Housing Association that is allowed to raise private funding
2. Use the Private Finance Initiative (PFI) to introduce private sector investment to some parts of the housing stock, which stays in council ownership
3. Set up a Arms Length Management Organisation (ALMO) to manage the housing, which stays in council ownership, and gets some extra resources when the council demonstrates it is providing a good service
4. Keep the housing in council ownership, managed the way it is now and with the same level of resources

Options Study
Definition: Options Studies take place on local authority estates over a short period of time. They give the residents of the estate and the local authority an opportunity to look in detail at the issues that affect it. A plan of action is put into place to address the issues that matter to residents by establishing the best way for them to be involved in the future.

Outstanding Debt
Definition: The total amount a local authority still owes on money it borrowed to build or improve its housing.

Owner Occupier
Definition: Someone who has purchased their home.