Jackie Baillie, minister for social justice, said:
'I am in no doubt that community ownership can deliver real and lasting benefits for Glasgow tenants including unlocking new investment to modernise homes and regenerate communities, putting tenants in charge by placing them right at the centre of decisions about the management and ownership of their homes and providing additional jobs and training as the housing investment programme kicks in.
'In addition to the massive investment that will be delivered, the executive has announced that if transfer proceeds then the council's housing debt burden of around£900m will be lifted, and over£400m will be made available to build new housing in the areas that the people of Glasgow want. Tenants are the key stakeholders in all of this and it's their decision in a ballot that counts.'
GHA is a new, not-for-profit organisation, created specifically to own and manage the Council housing stock of over 80,000 houses. Tenants, the council and the wider community are all represented on the association's board of management. On transfer, GHA will be subject to regulation by Scotland's new housing and regeneration agency, Communities Scotland.
As well as Glasgow, three other local authorities in Scotland are progressing proposals which may lead to ballots for the possible transfer to community ownership of all of their housing stock. These councils are: Dumfries and Galloway, Borders and Shetland Islands.
Ministerial consent to transfer is required. Before giving consent certain statutory consultation processes, including a ballot, have to be completed and proposals appraised in order to demonstrate that they represent value for money.