Development Finance and Grant Bidding Strategy
[To approve the funding strategy for new Housing Revenue Account developments and the strategy for bidding for grant funding from the Homers and Communities Agency and other agencies in support of newbuild activity]
Decision:
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 of 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 will be prepared to secure additional funding to support the delivery of new homes, such as bidding into the Homes and Communities Agency’s (HCA’s) Housing Infrastructure Fund.
Minutes:
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.