RSLs given flexibility on how they spend capital grants

11 Nov 99
Housing associations are being given more freedom to spend grants which were initially tied up in properties that are disposed of or sold.

12 November 1999

Until now, Housing Corporation rules prevented Registered Social Landlords who receive capital grants for specific properties from recycling the grant to repair other houses or provide additional homes.

But the corporation has lifted constraints over the operation of the recycled capital grant fund, giving RSLs more flexibility over where money can be spent once they no longer own properties. Money, for example, could be switched from several properties to single projects.

'The changes mean that they can spend their recycled grant on priority needs, and combine the grant from several disposals to help fund major investment and reinvestment projects,' said Alistair Jackson, head of investment and resources at the National Housing Federation.


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