Greenwich Council

Issue - meetings.

New affordable housing delivery programme and completion of a grant funding agreement with the GLA in relation to Building Council Homes for Londoners programme

Meeting: 11/12/2018 - Cabinet (Item 10)

10 New affordable housing delivery programme and completion of a grant funding agreement with the GLA in relation to Building Council Homes for Londoners programme pdf icon PDF 103 KB

To agree that RBG sign the GLA funding agreement, which is a standard non-negotiable agreement. This will secure £32.6m of GLA grant funding at £100k per unit.

 

 

 

Additional documents:

Decision:

Agreed to the Council entering into a Grant Funding agreement with the GLA, in the value of £32.6m, which formed part of the Council’s successful bid to the Building Council Homes for Londoners programme

 

Noted that the Council also bid for a lifting of the borrowing cap but this has been superseded by the Government’s announcement that the cap on how much Councils’ can borrow against their Housing Revenue Account would be ceased.

 

Noted that the agreement is a standard grant agreement which the GLA would require prior to releasing any funding and is non-negotiable. A summary of the main terms is attached as Appendix 1.

 

Noted a further report will be presented to Members on the full programme including details of the proposed HRA borrowing. 

 

 

 

 

Minutes:

The report was presented by the Director Regeneration, Enterprise and Skills.

 

Cabinet

 

Resolved –

 

That it be agreed for the Council to enter into a Grant Funding agreement with the GLA, in the value of £32.6m, which formed part of the Council’s successful bid to the Building Council Homes for Londoners programme

 

That it be noted that the Council also bid for a lifting of the borrowing cap but this has been superseded by the Government’s announcement that the cap on how much Councils’ can borrow against their Housing Revenue Account would be ceased.

 

That it be noted that the agreement is a standard grant agreement which the GLA would require prior to releasing any funding and is non-negotiable. A summary of the main terms is attached as Appendix 1.

 

That it be noted that a further report will be presented to Members on the full programme including details of the proposed HRA borrowing.