Council using £700,000 New Homes Bonus cash to build 17 new homes
Published by Max Salsbury for 24dash.com in Housing and also in Development, Finance, Local Government
Islington Council is using £700,000 of its New Homes Bonus to unlock a 17-home scheme.
The scheme - to be developed by Islington and Shoreditch Housing Association (ISHA) - will deliver four one-bedroom flats, two two-bedroom flats, one three-bedroom flat and four four-bedroom flats, all for social rent. The remaining six units will be for shared ownership.
Islington faces a serious shortage of affordable housing, with many families living in overcrowded or inappropriate accommodation.
The New Homes Bonus is paid once a year by central government to councils, and is designed to fund social schemes that might otherwise struggle to be realised.
It is based on the amount of extra Council Tax revenue raised for new build homes, conversions and long-term empty homes brought back into use. There is also an extra payment for providing affordable homes.
Islington Council leader Catherine West donned a hard hat and climbed behind the controls of a digger to take part in the 'ground breaking ceremony on 22 November.
She said: "Everyone deserves a decent, secure, affordable home and I am delighted ISHA is creating these new homes at social rent for people who live and work in Islington.
"We are on the side of our community and, together with partners, are in the middle of Islington's biggest affordable house building programme for 30 years."