NOVEMBER 2020 2021 2024 STRATEGIC PLAN VENTURE HOUSING

NOVEMBER 2020 2021 – 2024 STRATEGIC PLAN VENTURE HOUSING COMPANY Venture Housing Strategic Plan | 1

“ We are inclusive, approachable and caring” Venture Housing Strategic Plan | 2

Background Venture Housing Company is committed to making a significant contribution to the supply of affordable housing in the Northern Territory. Venture Housing Company (Venture) was established in 2011 following a national tender called by the Northern Territory Government (NTG) seeking an effective response to the growing housing affordability crisis amongst low and moderate income groups in the Northern Territory. Originally capitalised by the NTG, Venture works in partnership with government, the private sector and non-government organisations to develop and grow a sustainable mix of housing that is affordable, safe, secure and of a high quality for those unable to access the private rental market. Venture is a company limited by guarantee and has both Charitable and Public Benevolent Institution status. The company is governed by an independent Board. In its formative years, Venture’s income was underpinned by the National Rental Affordability Scheme (NRAS); a Commonwealth Government initiative to secure the provision of affordable housing for low to moderate income earners, by providing a top-up payment to their landlord. Venture’s properties will commence exiting NRAS in the year ending 30 June 2022 and all properties will have exited the scheme by 30 June 2026. This will have a significant bearing on Venture’s revenue mix. Venture has developed this plan to navigate the upcoming period of change. For the period 20212024, Venture’s primary focus will continue to be on the growth of its affordable housing portfolio, but it will balance this with the need to explore new ideas to create a revenue mix that provides the long-term sustainability that Venture needs to underpin its delivery of quality, affordable, safe and secure homes for Territorians. “ We are trustworthy, professional and subject-matter experts” “ We are innovative, collaborative and nimble” Venture Housing Strategic Plan | 3

Vision, Purpose and Values Vision “For all Territorians to have a quality, affordable, safe and secure home. ” Purpose To make a significant contribution to the sustainable supply of affordable housing in the Northern Territory. Values The above vision and purpose are supported by Venture’s values, which include: • Trust “ We are proudly Territorian!” • Transparency • Accountability • Integrity • Respect “ We will continue to maintain high standards of governance and compliance” Venture Housing Strategic Plan | 4

Strategic Objectives Vision For all Territorians to access a quality, affordable, safe and secure home. Purpose To make a significant contribution to the supply of sustainable and affordable housing in the NT. VALUES "Just as home is where the heart is, our tenants are at the heart of everything we do. At Venture we understand the impact of having access to a home, and the solid base that provides an individual in all that they do. ” Capability Enhancemen t Trust Transparency Integrity Accountability Respect Innovative Solutions Sustainability Trusted Influencer Tenants "Just as the roof of a house provides shelter and protection, Venture enables access to homes for those without means to access the private housing market, affording tenants the basic security through which they are empowered to purposefully engage in the community. " "Just as a house is built on solid foundations, Venture's strategic pillars provide the foundation for the organisation to move forward for the benefit of tenants, our communities and the Northern Territory. " Foundation Tenants at the Heart Trusted Influencer Sustainability Venture Housing Strategic Plan | 5 Innovative Solutions Capability Enhancement

Tenants at the Heart Strategic objective Our tenants are at the heart of all that we do. We seek to enable them to access quality, affordable, safe and secure homes so that they have a solid foundation on which to build their lives. What will achievement of this objective mean? Tenants without the means to meet the high costs of the private rental market, yet unable to access social housing, will have a place to call home, and a base from which they leverage to participate productively in our communities. Trusted Influencer Strategic objective We are a trusted influencer in the area of affordable housing needs in the Northern Territory, respected by Government, the private sector, non-government organisations and tenants alike. What will achievement of this objective mean? Venture has delivered affordable housing to the Northern Territory for the past 10 years; we are highly relevant and we know the market. We seek to leverage this knowledge and build trusted relationships that drive practical, sustainable solutions for the Northern Territory’s housing needs. Sustainabilit y Strategic objective To secure the ongoing financial sustainability of Venture and to deliver homes that maximise use of technology for reduced environmental impact. What will achievement of this objective mean? Venture is able to continue its provision of quality, affordable, safe and secure homes to Northern Territorians in the long-term, whilst maintaining its social licence to operate through its low-impact environmental footprint. Innovative Solutions Strategic objective Venture seeks to drive new solutions to the Territory’s affordable housing market in partnership with others. What will achievement of this objective mean? Solutions will provide housing to a greater number of tenants that suit the balance of their needs between affordability and quality, safety and security. Capability Enhanceme nt Strategic objective To increase the efficiency and precision with which Venture operates. What will achievement of this objective mean? Enabled staff, through processes, systems and knowledge, will operate efficiently in delivery of a high quality service to clients, underpinning long term financial sustainability of Venture, and allowing the capacity for Venture to engage in conversations with key stakeholders as a trusted influencer. Venture Housing Strategic Plan | 6

Initiative Timing Strengthen relationships with key Northern Territory Government stakeholders to drive mutually beneficial housing solutions. 2021 Seek new revenue streams for ongoing financial sustainability. 2021 Explore financially viable opportunities to build scale through housing stock transfer arrangements across the housing continuum. 2021 Strengthen relationships with key Commonwealth Government stakeholders to drive an alternate income mix for Venture Housing. 2021 Seek alternate funding/finance sources to self-fund developments for scale. 2021 Take a portfolio approach to investments for long term financial sustainability. 2021 Build relationships with potential partners bodies with a focus on housing for key workers, and explore alternate options for mix of tenancy manager/landlord roles. 2021 Seek partnerships to deliver services into alternate housing sectors, and support services for tenants as required. 2021 -2024 Develop and implement key performance metrics for tenant satisfaction and routine of measurement. 2021 -2024 Review and simplification of policies and procedures for improved agility. 2022 Establish a workforce development plan to efficiently train and recruit for delivery in line with existing and growing housing stock. 2022 Leverage long term experience and status to provide leadership in innovation of housing policy and delivery. 2022 -2024 Grow stock to: - 250 units of housing by 2022 - 300 units of housing by 2023 - 400 units of housing by 2024 2022 -2024 Ensure that future developments are designed for high energy efficiency ratings. 2022 -2024 Pending sufficient cashflow, upgrade current stock to improve energy efficiency rating 2024 Venture Housing Strategic Plan | 7 Relevant objectives

Contacts in relation to this strategic plan Venture Housing Company Ltd Ph: 08 8981 9804 admin@venturehousing. org. au This 2020 -2024 Strategic Plan (Plan) has been generated in compliance of the contractual obligations of Venture Housing Company Ltd (Venture) pursuant to the Funding Deed dated 30 July 2012 between Northern Territory of Australia represented by the Department of Territory Families, Housing and Communities (NTG) and Venture (Funding Deed). Any information included in this Plan in relation to or connected with (either directly or indirectly) the National Construction Code non-compliances that have been identified at the Eco Gardens, Eco Waters and 11 Tarakan Court Stage 1 development are not an admission of liability nor a waiver of any contractual right, statutory right or equitable right at law by Venture Housing Strategic Plan | 8