Transcript Slide 1
Cornwall’s housing investment plan Louise Dwelly Corwall Strategic Affordable Housing Manager Ambitions for new homes • Deliver 1000 affordable homes a year for four years • 70% to be for rent • 70% to be in the towns • Funding for 1,000 RP homes (in addition to HCA packages) • Identify 200 HRA infill plots and funding from HRA headroom for 150-200 council homes • £4 million revolving loan funds to CLTs • Cornwall Land Initiative £12.5 m working capital, land and receipts to deliver 1-2 packages of sites What are we delivering? 04-05 05-06 06-07 07-08 08-09 09-10 10-11 Caradon 61 74 60 89 96 Carrick 87 20 54 109 142 Kerrier 42 46 98 78 109 NCDC 50 75 105 146 135 Penwith 29 70 80 135 72 Restormel 83 117 112 155 205 TOTAL 352 402 509 705 759 * estimate 11-12 Cornwall 852 704 750* Areas of preference (69% want to live in 20 settlements) Ambitions for wider housing objectives • Cash flow HCA capital for 31 G&T pitches • Future scope for extra care capital funded through Council / HRA and HCA • Homeless hostel • £1 million for empty homes • £0.250 million for CPO • £0.250 million for loans to private sector landlords • Equity loans Assumptions about delivery sources Rented supply Housing association activity and HCA investment Cornwall Council commissioning programme Council / private sector delivery partnership Cross subsidy schemes in rural areas Section 106 on and off site Carrick Housing HRA infill (3 year programme) Ownership Supply First buy allocations Intermediate sale Shared ownership Community land trusts TOTAL Annual 266 188 100 75 100 50 779 4 year 1,065 700 400 300 400 200 3,065 87 75 53 50 265 1056 350 300 210 200 1,060 4,125 Smarter Investment • £10.2 million for DFGs brought forward but service transformed • Delivery targets depend on £19 million of indicative investment from HCA packages • Capital receipts from land sales will fund homes without grant • Average RP grant must be £ 20,000 per home • Continue cross subsidy • CLT and private sector loans are self financing • Aspiration for match funding for homeless hostel and sheltered housing re-modelling and additional funds for empty homes Key messages • You are a critical part of delivery • (Cornwall has an ambition to deliver and create opportunities • Rural areas must begin to be self financing through departures • We need to deliver in the top 20 settlements • There needs to be stronger and smarter relationships between sectors in Cornwall