Residential Independence Proprietary Limited … · Web viewRIPL Corporate Plan 2017/18RIPL proudly continues to meet the housingAbout 5,000 Victorians are seriouslyinjured in transport

ible housing ne

ld leading promotes choice

Pictured on cover: Aaron, TAC client

Foreword and acknowledgements

4

Our history

6

RIPL’s role

6

The TAC’s role

7

2016 - 2017 Highlights

7

The RIPL model

8

Partners

9

Beyond best practice design

10

Exploring new technologies

11

Better outcomes by research

11

Program status

12

Short term priorities

14

Long term priorities

14

Corporate measures

16

Capital budget

18

Affordable Rent

18

Financial sustainability

18

Risks

19

Capital revaluation

19

Our vision

Affordable and accessible housing is available for everyone

Our mission

Create and manage world leading accessible housing that promotes choice

RIPL Corporate Plan 2017/18

RIPL proudly continues to meet the housing

About 5,000 Victorians are seriouslyinjured in transport accidents each

Over the last 12 months, RIPL has continuedto build on its success, with four

A state-wide shortage of housing for someof its most seriously injured clients led the TAC to create the Residential Independence Pty Ltd (RIPL) program to provide housing that allows people to regain choice, control and The RIPL program is designed aroundthe principle that being dependenton others for everyday tasks is a major barrier to regaining quality By developing innovative, accessiblehousing, RIPL is assisting people to live full and

Foreword& acknowledgements

Of those, about 90 sustain serious spinal cord or acquired brain injuries.

04

This Corporate Plan has been

needs of some of the TAC’s most seriously injured clients and influence the wider housing sector in relation to how thoughtful designcan enable people to live more independently.

projects and three new projects underway. As a testament to the success of the RIPL program, this year the TAC has allocateda further $10 million in funding to build more housing for TAC clients, bringing the total funding allocation to $40 million.

In addition to meeting the housing needs of the TAC’s clients, RIPL has undertakena number of initiatives to influence the wider housing sector in relation to accessibility and adaptability standards for housing.This has included working with the Victorian Government to promote the strengthening of the National Construction Code. This hasbeen with a view to creating more well-designed housing that creates and maintains socially inclusive communities and gives peoplewith disability more choice in where to live.

On behalf of the RIPL team, I would like Ben Carterto acknowledge the support of the Victorian General ManagerGovernment, the TAC, the RIPL Board and Residential Independence Pty Ltdthe RIPL Board’s advisors. Their support and guidance is instrumental to the success of the RIPL program.

I look forward to building on our successes and further demonstrating how thoughtful design can enable some of the TAC’s most seriously injured clients to regain their

Independent livingOur history

The lack of affordable and accessible housing was identified as a key barrier to some of the TAC’s most seriously injured clients regaining their independence.

This issue is not limited to the TAC but also to the wider disability sector. Demand foraffordable and accessible housing far outstrips supply and additional funding to date has not been sufficient to address the need of the wider disability community.

In 2009, the TAC Board considered optionsto address this shortage of accessible housing options for its clients and embarked on a strategy to invest in disability infrastructure.

“That’s what makesIn 2010, the TAC Board endorsed the formation this place so good,of the Residential Independence Trust (RIT) the support is there 24/7.”and its trustee company Residential IndependencePty Ltd (RIPL), with the TAC as the sole unit holder. The TAC’s role

RIPL’s current client base consists of TAC clients • Identify clients and locations for each who have been seriously injured as a result RIPL development, noting that this is onlyof a transport accident. These individuals may RIPL’s role one of a number of housing options ablehave an acquired brain injury, a spinal cord injury to be funded by the TAC. Clients have choiceor a combination of both. RIPL has two main objectives: and control regarding whether RIPL housing

• Create and manage individual, innovative suits them and accessible housing, in well-connectedlocations that are suitable for some • Manage the client’s claim and assist them of the TAC’s most seriously injured clients to transition to, and make the most of,

living independently• Influence the wider housing sector

regarding how thoughtful design can • Engage and manage the support provider enable people to live more independently. for each RIPL development.

06


2016 – 2017 Highlights

1. RIPL has completed four projects to date and 21 of the TAC’s most seriously injured clients are now living with the independence they deserve

2. RIPL is in the process of delivering three additional projects within the original budget allocation of $30 million, which a further13 TAC clients will call home. This includesa development in Bendigo, which will be RIPL’s first development in a regional area

3. RIPL and the TAC established a partnership with Deakin University to trial an innovative new smart home technology platform

4. RIPL completed and published a joint paper with The Summer Foundation, which drew on our combined experience in developing accessible housing, to review the current state of the Accessible Design Standardsin Australia

5. RIPL updated its website, which now provides free access to download RIPL’s Corporate Plan, RIPL’s Design Brief, full post occupancyresearch findings for our first two developments, an Accessible Design Standards report and numerous video stories from our tenants

6. The RIPL program was selected as a finalist in the “Innovation in Injury and Disability Management” category and had a team member selected as a finalist in the “Outstanding Contribution by an Individual”category at the Personal Injury and Education Foundation’s 2016 Excellence in Personal Injury and Disability Management Awards.


Innovative, flexible

model of Client Selection

• RIPL tenants and their families,

Integrated assistive

technology

Best practiceaccessible

design

Succeeding in partnership

(TAC)

(RIPL)

Client independence“Getting Clients’ Lives Back on Track”

08 whilst ensuring “Financial Stability”

(TAC)

(RIPL)


Partners

A close collaboration with RIPL’s primary partner, the TAC, underpins the RIPL model.

RIPL also collaborates with a number of other individuals and organisations including:

friends and advocates• Support organisations• The Institute for Safety,

Compensation and Recovery Research• The Summer Foundation• Deakin University• National Disability Insurance Agency• Housing Associations• Peak industry groups• The Not for Profit sector• Project architects,

builders and technology providers

“It’s so easy to wheel around. This will make life much easier.”

The RIPL model

RIPL has responded to the housing needs of the TAC in an innovative and market leading manner.

The ‘RIPL model’ incorporates four key elements which combine to deliver best practice outcomes for clients, as shown in the illustrations on these pages.

All of these elements are critical to ensuring the success of the RIPL model.

The RIPL model is delivering a unique portfolio of accessible housing that is:

• Enabling clients to achieve greater independence leading to significant improvements in client outcomes,client experience and quality of life measures

• Assisting with the financial viabilityof the TAC scheme through savings in, and avoidance of, rises in future attendant care costs.


In this way, RIPL hopes that the lessons learned

for RIPL Projects One and Two are availablechange my life

forever.”

Relentless innovationRIPL aims to demonstrate how best practice Beyond best practice designaccessible and adaptable housing designand integration of assistive technology leads RIPL has developed its own design standards,to improved client outcomes. as no single standard or combination

of standards will meet the accommodationRIPL aims to achieve this in the following ways: requirements of the TAC’s clients.

The design brief ensures that all RIPL developments deliver best practice accessible housing.

The design brief was developed through extensive stakeholder consultation with clients, families, design experts, access consultants,clinicians and support providers. The brief Better outcomes by researchcontinually evolves as design lessons are learntand it is now up to its sixth iteration. To assist with measuring the success of

the RIPL model, RIPL is actively engaged with

The design brief provides housing that has the Institute for Safety, Compensation and flexibility for different types of support models, Recovery Research, who have conducted theis low maintenance, has efficient life cycle post occupancy evaluation of RIPL’s Abbotsfordcostings, is durable and is environmentally and Lilydale developments. Post occupancy sustainable wherever possible. It also provides evaluations of RIPL’s Frankston and Glenroy flexibility to allow scope for innovation in design. developments have also commenced.

It is not RIPL’s intention to hold any intellectual The outcomes of these research projects are property associated with the RIPL model. used to inform future RIPL developments and to RIPL is therefore willing to share its knowledge also provide an evidence base that the accessible and lived experience. In advancement of this, housing sector may use to guide future design the RIPL design brief can be downloaded for and investment in this type of housing.free via RIPL’s website.

“This is going to A copy of the post occupancy evaluations

from the RIPL model can be used to the benefit on RIPL’s website. of anyone who needs accessible housing.

“Grand final dayat my place next year!”

010

Exploring new technologies

Assistive technology

All of RIPL’s homes incorporate assistive technology to assist residents to maximise their independence. A key feature of the assistive technology is that it is easily adaptable and can be added to and customised to meet the needs of a wide range of tenants.

RIPL also installs electrical and signal cables to key areas of each home as part of the base building to enable assistive technology to beeasily retrofitted in the future as needs change.

Emerging assistive technologies

RIPL is also continuing to develop and refine the assistive technology in a number of ways. A particular focus at the moment is delivering assistive technology that is intuitive and intelligent.

In 2016, RIPL and the TAC established a partnership with Deakin University to trial an innovative new smart home technology platform, which is based on the emerging ‘Internet of Things’.

This technology has been developed specifically to assist people to ‘age in place’ and delay transition to supported living environments. However, it is apparent that this technology may also have significant benefits for our clients and the disability sector more broadly. Specifically,it has the potential to:

• increase independence• reduce reliance on paid supports• increase safety within the home

With the agreement of the tenants,this technology will be trialled in a small number of RIPL homes during 2017. The trial is scheduled for completion in late 2017.


I survived my accident.”

Our successes“I’ll be able to cookand hold a dinner party!”

Program status

Below is a snapshot of the current status of RIPL’s projects.

“I’m so happy

012

Note:These projects will essentially exhaust the initial funding allocation of $30M. In 2017/18 RIPL will work with the TAC to identify additional projects within the additional funding allocation of $10M

Site Details Land/apartment purchase complete?

Planning permit issued?

Construction commenced?

Construction complete?

Abbotsford 4 apartments (4 x 1 bedroom apartments plus an area for the support provider)

Lilydale 6 units (1 x 3 bedroom unit and 4 x 2 bedroom units plus a unit for the support provider)

Frankston 9 units (1 x 3 bedroom unit and 7 x 2 bedroom units plus a unit for the support provider)

Glenroy 5 units (4 x 2 bedroom units plus a unit for the support provider)

Wheelers Hill6 units (6 x 2 bedroom units plus an area for the support provider)

Scheduled for completion in second quarter of 2018

Glenroy (second

development

)

3 units (3 x 1 bedroom units with support delivered from the first Glenroy development)

Scheduled for completion in third quarter of 2018

BendigoPotentially 4 apartments plus a central support area

Anticipated for completion in fourth quarter of 2018


Our commitment

Short term priorities

In the next 12 month period, RIPL will:

• Complete the construction of the Wheelers Hill development• Commence construction of a second development

in Glenroy• Commence design and development of a

project in Bendigo• Implement any relevant outcomes from

ISCRR’s post-occupancy evaluations• Complete trial of the new smart home

technology platform with Deakin University• Work with the TAC to identify additional projects• Continue to engage with and influence the wider

housing sector in how thoughtful design can enable people to live more independently.

Long term priorities

RIPL will:

• Deliver a total of 46 accessible houses for some of the TAC’s most seriously injured clients

• Continue to refine work practices and contractual arrangements to support the operationof the property portfolio

• Continue to learn from and influence the wider housing sector

• Assist the TAC as required to implement its long-term strategy to meet the accessible housing needsof its clients

• In partnership with the TAC, deliver best practice evidence based research in the field of innovative accessible housing, demonstrating its impact on client outcomes.

“This place has made him much more independent, much more confident; he’s making plansfor himself which is fantastic.He’s happy and that’s all that matters.”


on our commitments

(Cont.)

Completion of construction

The following table highlights the corporate measures that will be used to evaluate

Additional projects

How we deliver

RIPL’s performance and progress.

1 Governance 1.1 RIPL risk register

1.2 RIPL budget

1.3 RIPL constitution, trust deed, funding agreement & the deed of nomination and guarantee

2 Development 2.1 Number of TACof properties clients accommodated

2.2 Livable housing design guidelines

2.3 Final development costs

2.4 Timelines

016

Reviewed and updated

quarterly Reviewed and

updated quarterly

Compliance with all

requirements

No less than 46 within current budget allocation (unless otherwise agreed with TAC)

All developments meet the requirements of platinum level accreditation unless otherwise approved by the RIPL board, as validated by an‘as constructed’ audit

All contract values within board approved contract expenditure limits

Wheelers HillCompletion of construction in second quarter of 2018

3 Management of properties

4 Innovation and influencing

2.4 Timelines

2.5 OHS and environmental management

3.1 Tenancy, asset and property management services

3.2 Residential tenancy agreements

4.1 RIPL design brief

4.2 RIPL website

4.3 Technology

4.4 Influencing

Glenroy stage 2

in third quarter of 2018

Bendigo Development secured by September 2017

to be established in consultation with the TAC

No OHS or environmental incidents during construction

Secured prior to the completion of construction for each development

All tenancies subject to a residential tenancy agreement

Continue to record lessons learned and update design brief as required

Reviewed and updated as required

Complete trial of thenew smart home technology platform with Deakin University

Continue to use RIPL’s experience to inform and influence the wider housing sector in relation to how thoughtful design can enable people to live more independently.

Objective Ref. Description Measure

Objective Ref. Description Measure


Capital budgetThe RIPL program has a current funding allocationof $40 million, which is forecast to be

RIPL recognises that the housing sector

Affordable RentRIPL receives affordable rent from its clients.

Risks associated with the developmentand operation of the property portfolio have also been recognised via RIPL’s

Regardless of a client’s income, their contributionto the rent will never exceed the market rent for a property, as determined by

Capital revaluationIn 2016/2017, RIPL undertook a capitalrevaluation on all of its non-financial physical assets. These revaluations were undertakenFinancial

sustainabilityThe TAC supplements RIPL’s revenue streambased on an independent assessment of market rent to ensure the ongoing financial sustainability of the RIPL model.

Sustainability

to complete the current program of works.

Affordable rent has been set at 30% of a client’s assessable income plus any entitlementto Commonwealth Rent Assistance.

valuation.

As part of this process, clients sign a standard residential tenancy agreement that setsout a client’s rights and responsibilities.

018

“I’ll be able to dowhat I want, when I want.”


Risks

It is vital RIPL effectively manages risks that could impact the delivery of its objectives.

is rapidly evolving. It is therefore imperative that RIPL remain flexible and agile so thatit can confidently respond to these changes and meet the TAC’s future requirements.

risk register. Controls for these risks have been implemented and integrated into our standard business processes.

in accordance with FRD 103F “Non-Financial Physical Assets (June 2015)”, as issued by the Department of Treasury and Finance. The revaluation resulted in a net positive movement of approximately $2.4 million in the value of RIPL’s capital assets. The RIT balance sheet has been updated to reflect the capital revaluations.

“This place is brilliant, absolutely fantastic.I never thought I’d say that.”

Operating budget

RIPL Metrics

020

Gross rental yield 2.5% 2.0%Rental management 5.1% 4.8%Maintenance 8.9% 7.1%Body corporate/rates/utilities 12.1% 17.6%Average weekly rent ($) 380 408

Net result - EBIT 1,918,890 (527,505)

Depreciation expense (447,404) (471,875)Capital revaluation 2,440,287 -

EBITDA (73,993) (55,630)

Audit feesDirectors insurance Contractors Management fee Other operating Indirect costs

(14,080) (14,432)(12,481) (11,310)(89,020) (60,000)(353,295) (384,232)(13,786) (11,240)(482,662) (481,214)

Interest and other incomeOther revenue

58,366 71,61158,366 71,611

Actual

2016/17 2017/18

Property rental income Property/tenancy management Body corporate and rates Property maintenanceUtilitiesDirect margin

473,823 509,075(23,981) (24,456)(45,280) (80,351)(42,059) (35,988)(12,200) (14,307)350,303 353,973

Capital by property (1/2)

022

G003 Glenroy (Anselm Grove)Land purchaseBuilding & construction Plant & equipment Total capital spend

- - - - -- - - - -- - - - -- - - - -

G001 GlenroyLand purchase Building & construction Plant & equipmentRevaluation

- 1,051,358 - - -- 160,766 111,609 1,463,368 696,791- - - - 250,865- - - - -

Total capital spend - 1,212,124 111,609 1,463,368 947,656

F001 FrankstonLand purchaseBuilding & construction Plant & equipment Revaluation

1,992,358 - - - -16,847 283,990 19,686 1,849,331 2,024,206- - - - 420,828- - - - -

Total capital spend 2,009,205 283,990 19,686 1,849,331 2,445,034

W001 Wheelers HillLand purchaseBuilding & construction Plant & equipment Revaluation

- - 1,871,362 - -- 181,049 62,645 17,735 (223,784)- - - - -- - - - -

Total capital spend - 181,049 1,934,007 17,735 (223,784)

Actuals

2011/12 2012/13 2013/14 2014/15 2015/16

A001 AbbotsfordLand purchase Building & construction Plant & equipmentRevaluation

- 2,850,000 8,755 (2,858,755) -- 100,477 (54,148) 2,860,878 289- - 99,957 - -- - - - -

Total capital spend - 2,950,477 54,564 2,123 289

Capital by property (2/2)

024

Additional Project 3Land purchaseBuilding & construction Plant & equipment Total capital spend

- - - - -- - - - -- - - - -- - - - -

Total RIPLLand purchaseBuilding & construction Plant & equipment RevaluationTotal capital spend

3,118,713 3,901,358 1,880,117 (2,858,755) -163,422 828,319 1,867,194 6,850,691 2,525,225- - 99,957 181,616 671,693- - - - -3,282,135 4,729,677 3,847,269 4,173,551 3,196,918


- - - - -- - - - -- - - - -- - - - -


- - - - -- - - - -- - - - -- - - - -

B003 BendigoLand purchaseBuilding & construction Plant & equipment Total capital spend

- - - - -- - - - -- - - - -- - - - -

Actuals

2011/12 2012/13 2013/14 2014/15 2015/16

L001 LilydaleLand purchaseBuilding & construction Plant & equipment Revaluation

1,126,355 - - - -146,576 102,037 1,727,403 659,379 27,724- - - 181,616 -- - - - -

Total capital spend 1,272,931 102,037 1,727,403 840,995 27,724

Statement of cashflows

Interest receivedReceipts from property income Payments to suppliers Payments to directorsTotal cashflows from operating activities

Purchase of property, plant & equipmentTotal cashflows from investing activities

Units issuedTotal cashflows from financing activities

Cash and cash equivalents at the beginning of the yearTotal increase/decrease in cash and cash equivalents

026

Cash and cash equivalents at the end of the year 3,434,602 1,947,815

4,469,712 3,434,6024,469,712 3,434,602

Increase/decrease in cash and cash equivalents

- 4,800,000- 4,800,000

Cashflows from financing activities

(977,320) (6,185,936)(977,320) (6,185,936)

Cashflows from investing activities

58,366 71,611488,869 462,305(605,025) (634,767)- -(57,790) (100,851)

Actuals

2016/17 2017/18Cashflows from operating activities

http://www.tac.vic.gov.au/clients/home-and-family/about-the-ripl-project

Documents

Residential Independence Proprietary Limited … · Web viewRIPL Corporate Plan 2017/18RIPL proudly continues to meet the housingAbout 5,000 Victorians are seriouslyinjured in transport