The HCA has launched a consultation around options for the recovery and recycling of grant funding that would make it an investor in affordable housing, sharing risk with providers but also benefitting when property values rise. Such a move – allowable under new powers contained within the Housing and Regeneration Act and due to come into force from April next year – could see part of the Agency’s National Affordable Housing Programme allocated to housing associations as an investment rather than grant, resulting in a future return direct to the Agency which would be re-invested in affordable housing where it is needed most. It would also align the rules governing housing associations with those applied to private developers and ALMOs. The consultation ends on 15 March 2010. The consultation paper can be found on the HCA website, link below.
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