Eden District Council (February 9) agreed that £1.2 million of its anticipated New Homes Bonus (NHB) from 2012-2016 will be used to create affordable housing.
In September 2011, the Council determined that it's NHB will not be used for general purposes, but be allocated for specific priorities, initial commitments are:
An annual contribution of £100,000 per annum to the widely welcomed Eden Community Fund
£100,000 per annum (2012 to 2015) being allocated to support special projects that will improve the Council's efficiency such as moving to one site
The table below shows projections for how NHB will be allocated from 2012/2016:
|Amount of NHB anticipated by Eden Council
|Amount allocated to expenditure
|Unallocated NHB to support affordable housing
The Government has confirmed the grant that will be awarded from 2011/12 to 2016/17 (£70,000 per annum) and the grant awarded from 2012/13 to 2017/18 (£182,000). The grants starting in later years are estimated based on likely house completions.
Eden District Council's Leader Gordon Nicolson said: "The NHB is vital money for Eden; it will be used to finance long-term projects that will benefit the District, these include; delivering much needed affordable housing local families, creating a higher wage economy through the expansion of Eden Business Park, supporting the sustainability of communities through grant funding and developing a single site for Council operations in Penrith."
Last December, the Council established a Housing Board to progress the delivery of affordable homes in the District, by investigating how affordable housing is funded and how Council land holdings can be used to deliver more affordable homes.
Councillor Nicolson said: "The Council does not have a large portfolio of land suitable for housing developments, but certain sites may be useful in enabling schemes to progress by making land available at possibly below market rates. Last night, Council supported a recommendation that when any Council land is committed for affordable housing, the estimated market value of the land is transferred from the affordable housing fund to support Eden's Capital Programme worth £4.6 million between 2011-2016; £3.2 million of this programme already supports housing initiatives such as empty property grants, decent homes assistance and energy efficiency grants."
For more information about Eden District Council visit www.eden.gov.uk or follow us at www.twitter.com/edencouncil
Notes to Editors
For more information contact the Communication Officer at Eden District Council telephone: 01768 212137.
New Homes Bonus is a grant given by the Government to local authorities who promote the building of new homes and reduce the number of empty properties. For every Band D* equivalent (new homes and change in empties) the grant is £1,439. For every affordable home there is a bonus of £350. In two tier areas the total grant 80% comes to the district council and 20% to the county council. The grant for each house is given annually for six years.