Section: Housing Finance
New Bids for Decent Homes Funding
The Government announced that 38 local authorities have bid in one of three programmes for attracting additional resources to help meet the Decent Homes targets:
- Transferring the housing stock (LSVT) to a non-profit making housing association.
- Creating an arms length management organisation (ALMO).
- The private finance initiative.
The applications cover around 160,000 homes urgently needing improvements. The Government's declared target is to bring all social housing into a decent condition by 2010.
The local authorities' bids are:
LSVT or ALMO
- Aylesbury Vale
- Brent
- Cannock Chase
- Chorley
- Derwentside
- Doncaster City
- Gloucester City
- Hackney
- Islington
- Lambeth
- Lewisham
- Liverpool
- Newham
- North Lincolnshire
- Pendle
- Sheffield
- Southend
- South Tyneside
- Stockport
- Waltham Forest
- Wear Valley
HRA PFI
- Leeds
- Lewisham (also LSVT)
- Manchester
- Rossendale
- Salford
- Sefton
- Selby
- South Gloucestershire
- Oldham
- Shefffield (also LSVT)
- Taunton Deane BC
- Tower Hamlets
- Waveney
- Waverley
NON-HRA PFI
- Birmingham
- Guildford
- Medway
- Weymouth and Portland
- Woking
Some of the above are partial stock bids.
New Lending
- Abbey National:
- Ocean Housing: An increased loan facility of £12 million to £67 million.
- Barclays Bank:
- Beth Johnson HG: An additional facility of £15 million (bringing the total borrowing to £25 million), to support a 1,500 home development programme over the next four to five years.
- EastEnd Homes: £20 million to support the transfer of 1,650 homes from Tower Hamlets Council (Mile End Estate).
- Trafford HT: £90 million to fund the transfer of 9,500 homes from Trafford Council.
- Bradford & Bingley:
- De Montfort HS: An increased facility from £6.3 million to £13.8 million, to support new development.
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