Almos qualify for development grants

26 Jul 07
Eight arm's-length management organisations and a further two council-led bids are among 38 new investment partners announced by the Housing Corporation.

27 July 2007

Eight arm's-length management organisations and a further two council-led bids are among 38 new investment partners announced by the Housing Corporation.

Having passed the first stage of qualifying for the corporation's 2008/11 National Affordable Housing Programme, they are in line to receive development grants this autumn alongside established partners, most of which are registered social landlords.

Steve Douglas, the corporation's acting chief executive, said it was delighted to be widening the range of organisations eligible for grants and was keen to see how competitive they made their final bids.

In addition to the eight Almos, councils head two special purpose vehicles that include banks, developers and RSLs. 'The future will increasingly be about partnerships between local authorities, Almos, the private sector and traditional housing associations,' said Douglas.

A second round of bidding, to be held next year, will be open to Almos and councils with two inspection stars rather than three.

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