10,000 New Council Homes To Be Built In London

“£1.67bn announced for London councils to deliver new affordable homes by 2022 by the London Mayor through the Homes for Londoners grant programme –

  • Mayor to support councils in starting building  10,000 new council homes over the next four years
  • Sadiq Khan offers special funding from £1.67bn pot and expertise to help boost building of council homes
  • Innovative new approach to help councils replace  homes sold through Right to Buy”

 

The funding prospectus for the above has now been released (click here).

At Altair our knowledge, skills and experience in supporting councils, means we are well placed to help capitalise on this unique opportunity to deliver new affordable, council housing. To deliver this ambitious programme will require expertise and knowledge across housing and development.

We can help and have identified the following key areas to support you

  • OPS administration and audit requirements – submit bids on OPS and analyse / collate required information for GLA grant compliance requirements and audits.
  • Developing in-house expertise and skills (as required by the prospectus) – this can include:
    • Financial appraisal of schemes
    • Planning & development
    • Land acquisition
    • Funding requirements

By using our interim staff or on a project basis, in addition to the resource offered by the GLA, we provide knowledge and skills at key stages during the development process.

  • Options appraisals of the site – the prospectus offers the opportunity to look at potential development sites with a fresh view. This could include sites that might have previously been unviable and understanding how the new grant rates impact on viability. We are adept at carrying out quick options appraisals to determine the best solution for a site. This could also enable a programme approach to grant to be taken, as to whether there is a case for a higher grant rate on specific projects. This could be included for sites that Councils plan to acquire to support delivery of new homes as part of the programme. 
  • Project specific financial performance and HRA business plan impacts – we can model individual schemes and measure the impact on the HRA business plan, particularly any requirements for increased headroom (and level of increase) that can then be proposed to the GLA as part of the funding bid.
  • Podplan appraisal tool – easy to use appraisal tool from Altair to enable councils to understand financial performance of individual projects at the new grant rates. podplan is being used currently by dozens of Housing  Associations ton to help them plan more effectively.

 

 

 

 

 

 

  • Development finance management ­ we can provide advice and support in managing the funding, and HRA borrowing, as part of the programme to ensure  caps aren’t breached.
  • State aid advice and returns Altair can advise on state aid compliance and returns required to the GLA as part of the funding arrangements.  

Altair have helped a number of Local Authorities realised their housing delivery ambitions such as Newham, Barking & Dagenham, Basildon and Medway, to name a few.

For a discussion about any of these or your specific requirements, and how we can help you, contact Matt Carroll at Altair on 07880 723 676 or by email at matt.carroll@nullaltairltd.co.uk.

Visit our website to find out more www.altairltd.co.uk