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HCA invites bids for £1.7bn affordable housing fund

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HCA invites bids for £1.7bn affordable housing fund

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Published by Max Salsbury for 24dash.com in Housing and also in Central Government, Development, Finance

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The Homes and Communities Agency has launched a prospectus inviting housing associations, councils, developers and others to bid for a share of £1.7 billion in grant funding for new affordable housing delivery outside London.

The HCA says its 2015-18 affordable homes programme is largely based on the current 2011-15 model, and the agency has introduced some new features which will be factored into the bidding process and the programme itself, building on lessons learned from the current programme.

There will be two routes to bidding: either firm schemes only or the mixed route comprised of firm schemes and indicative proposals. Any bidder will be able to bid for firm schemes only. Current HCA investment partners with a proven track record of good delivery will be able to access the mixed route, where this has been agreed with the agency.

Andy Rose, HCA chief executive, said: “We have published full details for the new 2015-18 affordable homes programme to make best use of the lead in time to the start of the new programme and ensure delivery can start from day one. We are continually looking at ways of maximising the number of new affordable homes for the funding invested, and secure early delivery. We have taken the opportunity to introduce new features which reflect some of the views expressed from partners during the current programme and during the programme development.

“As a result, we are setting in place a solid foundation for delivery post 2015 that builds on the success of the current programme.

“It is important of course that our investment partners continue to meet their delivery commitments under the existing programme. Alongside current delivery, they can take advantage of the long lead in time to the new programme, to ensure a smooth pipeline of affordable homes that our communities need. We look forward to taking the new programme forward with them.”

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