Decision details

Development Finance and Grant Bidding Strategy

Decision Maker: Cabinet (Resources) Panel

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To approve the funding and grant bidding strategy for new HRA housing developments.

Decisions:

Councillor Andrew Johnson presented for approval a funding strategy for new Housing Revenue Account (HRA) developments, to optimise the use of different funding sources, and allow HRA capital to be supplemented wherever possible. Approval was also sought to a proposed strategy for bidding for grant funding from the Homes and Communities Agency (HCA) and other agencies, in support of newbuild activity.

 

Resolved:

1.      That the strategy for funding newbuild Housing Revenue Account (HRA) development be approved.

 

2.      That the bidding strategy for grant funding to support the delivery of HRA Affordable Rent and Shared Ownership units be approved.

 

3.      That authority be delegated to the Cabinet Member for City Assets and Housing in consultation with the Strategic Director for Housing to vary the detail of the grant bids approved, and to enter into any contracts or agreements required for the draw down or application of grant.

 

4.       That it be noted that further grant funding bids would be prepared to secure additional funding to support the delivery of new homes, such as bidding into the Homes and Communities Agency’s Housing Infrastructure Fund.

Report author: Jane Trethewey

Publication date: 05/10/2017

Date of decision: 03/10/2017

Decided at meeting: 03/10/2017 - Cabinet (Resources) Panel

Effective from: 12/10/2017

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