Milestone as Housing Corporation signs last funding agreements
Housing Corporation News Release
Milestone as Housing Corporation signs last funding agreements
-Corporation strikes deals to deliver over 600 homes-
25 November 2008 ref: 86/08
The Housing Corporation has added a further 6 partners to its list of delivery partners who are now able to proceed with delivering much needed affordable homes. The Corporation has signed over £25 million in funding agreements with private sector and other new partners to deliver over 600 homes, as part of the Corporation's £8.4 billion 2008-11 investment programme.
And, history has been made as for the first time a social housing funding agreement has been signed between an Arms Length Management Organisation (ALMO) and the Corporation. The news follows last year's announcement that ALMOs were for the first time able to bid for funds from the programme creating an even more competitive mixed economy of affordable housing providers.
Illustrating the Corporation's supply momentum, grant agreements signed with new partners include:
Stockport Homes ALMO
Bovis
Barrats
Countryside
Lovells
and
MHS Homes
Housing Corporation Chief Executive, Steve Douglas said, "I am delighted that even during a time of major transition, Housing Corporation investment teams have maintained their focus on negotiating deals that will give us quality homes at the right price.
"This momentum gives a great start for the Homes and Communities Agency in these difficult economic times."
The signings add to the four agreements already signed this year: Bellway; Persimmon; Galliford Try; and Dunelm which already totalled over 1300 homes and over £50 million in funding:
Bellway
Persimmon
Galliford Try
Dunelm
These agreements pave the way for the organisations involved to press ahead with delivery of the homes being funded, and importantly, as new allocations are awarded through the continuous bidding process, delivery of those allocations can follow swiftly as contract negotiations have been successfully concluded.
Ends.
Press enquiries to Naomi Evans on 020 7393 2118
Notes to editors:
1) The Housing Corporation is responsible for regulating housing associations, which provide some two million homes across England.
2) The Housing Corporation is the Government's national affordable homes agency, responsible for investing in new affordable homes and regulating nearly 2,000 housing associations across England. The Corporation's £8.4 billion investment programme for 2008-11 is its biggest ever. Its previous investment programme of £3.9 billion for 2006-08 funded 92,752 homes; 52,929 of these for affordable rent, and 39,823 for affordable sale through the Government's HomeBuy initiatives, helping people to get a foot on the property ladder.
3) The Housing Corporation is working with English Partnerships and Communities and Local Government to establish the proposed Homes and Communities Agency and Tenant Services Authority by early December.
4) Stockport Homes is an Arms Length Management Organisation (ALMO), which means it is a limited company wholly owned by Stockport Council, but operates at arms length from the Council with operational day-to-day freedom. Its core business is managing the council stock in the borough, but it also manages a number of other services including Homelessness, Allocations and Carecall.
Work started on the Stockport scheme this month and is due for completion in November 2009. Dorset Avenue in Brinnington, will consist of:
• 3 x 2 Bedrooms Bungalow;
• 6 x 2 Bedrooms House;
• 4 x 3 Bedrooms House;
• 1 x 3 Bedrooms Bungalow;
• 2 x 4 Bedrooms House;
• 1 x 4 Bedrooms Bungalow.
