Liverpool hopes for transfer funds

7 Sep 06
A local authority remains confident of transferring 18,000 homes to a new social landlord, although the government has ruled out its bid for £135m of extra funding.

08 September 2006

A local authority remains confident of transferring 18,000 homes to a new social landlord, although the government has ruled out its bid for £135m of extra funding.

Liverpool City Council claims it needs the money to cover the difference between the sum that the tenant-led housing association, Liverpool Mutual Homes, can borrow privately and the £300m needed to bring homes up to standard.

The Department for Communities and Local Government has set aside a total of £182m to cover gap funding for run-down housing over the next two years. Although under half of the 49 stock transfer applications submitted in July require extra support, ministers are unwilling to give three-quarters of the total sum to a single authority.

Plans for a ballot in Liverpool this month had to be shelved because of funding doubts. But Rob Farnos, its divisional manager for housing, told Public Finance that the council was 'confident that we can resolve the issues with the government.'

Liverpool has already switched 12,000 homes to RSLs and hopes to ballot its remaining tenants in 2007.

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