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Decision details

Grant Funding from Homes England to support the Council's Stock Increase Programme

Decision Maker: Leader of the Council

Decision status: Recommendations Approved

Is Key decision?: Yes

Purpose:

To continue to access grant funding from Homes England (via the National Affordable Homes Programme), the Council needs to enter into a new Grant Funding Agreement.

 

To seek the necessary Executive approvals to enable the Council to enter into a Grant Funding Agreement with Homes England in relation to the Affordable Homes Programme (AHP) 2021-2026, and to accept the first grant payment of c£654k.

 

 

 

Decision:

That the Leader:

 

  1. approves the Council entering into the Grant Agreement with the Homes and Communities Agency (trading as Homes England) in relation to the Affordable Homes Programme (2021-26); and

 

  1. approves the acceptance of grant funding totalling £654,098 from the Affordable Homes Programme (2021-26) to support the delivery of the Stock Increase Programme projects at Baxter Court and Meersbrook Park Road.

 

Reasons for the decision:

1.    Entering into the Grant Agreement with Homes England
(Recommendation One)

 

Provides the opportunity to attract significant Government investment into the City to support the delivery of the SIP. The suitability of grant from the AHP will be assessed on a project-by-project basis prior to any bid.

 

2.    Acceptance of Grant Funding for the two specific projects
(Recommendation Two)

 

Enables grant funding to be accepted, contributing to the capital costs of two SIP schemes.

 

Alternative options considered:

1.    Entering into the Grant Agreement with Homes England
(Recommendation One)

 

Do nothing: The AHP will become an increasingly important part of the ‘other investment’ required to deliver the SIP – without it the SIP target of 3,100 homes will not be achieved. There is a degree of certainty linked to the AHP – with funding available throughout the 2021-26 period. ‘Do nothing’ is not considered a viable option.

 

2.    Acceptance of Grant Funding for the two specific projects
(Recommendation Two)

 

Use other sources of non-HRA investment: The use of AHP grant on these two projects will help maximise the number of new affordable homes that can be delivered across the City, whilst delivering homes in areas where there is an identified need.

 

Publication date: 17/05/2022

Date of decision: 16/05/2022

Accompanying Documents: