The GLA has launched its Homebuilding Capacity Fund (HCF): a programme that makes up to £10 million of funding available to councils to support housing supply. This is another positive step towards helping councils overcome the barriers to delivering more housing, and further reflects the Mayor’s recognition that local authorities have a vital role to play in finding innovative solutions.
The programme will focus on four key priorities for councils:
- Delivering a new generation of council homes;
- Increasing housing supply by supporting the development of small sites;
- Proactive planning in areas with significant growth potential; and
- Ensuring optimal density of new residential developments.
The funding will enable councils to secure the skills, capacity and expertise ranging from project managers or specialists in procurement and land assembly, to capacity studies for sites to optimise density. This presents a unique opportunity for councils to secure some of the resources they require, to deliver the new homes that are so desperately needed across London.
Councils will be invited to apply for up to £750k of funding over two years (2019/20 and 2020/21), and bids will be invited in early November. Some activities will not be eligible for funding, for example ‘business as usual’ activities or spend that could be funded through other GLA initiatives, and councils will only be able to submit one bid (though applications may contain up to five separate proposals). It is therefore vital that clear, credible and well evidenced bids are submitted that distinctly meet the programme’s specified criteria.
Altair is well placed to support local authorities with delivery of new homes and increasing housing supply across a range of disciplines. We provide project specific support in the form of: development and project management; procurement and funding applications; acquisitions and planning; viability and business planning; as well as options appraisals and strategic governance advice.
We’d be delighted to discuss your requirements, help you shape a funding package that unlocks housing growth in your borough and outline how Altair can support you moving forward.
For an informal discussion, please contact Matt Carroll
The funding guidance can be found here