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The HCA Prospectus for the 2016 – 2021 Bid Round is now out and as expected the focus is heavily on low cost home ownership. The government is making available £4.7 billion of capital grant to deliver at least:
• 135,000 homes for Help to Buy: Shared Ownership
• 10,000 homes for Rent to Buy
• 8,000 homes for specialised housing
Further key points from the prospectus have been outlined below for further insight:
•? Bid timetable:-
– Launch of bid round – 11 April 2016
– Close of bid round – noon 02 September 2016
– Clarification of bids – 02 September 16 to 28 October 2016
– Announcement of initial allocations – early/mid December 2016
– Non RP’s encouraged to bid
•? Conversions only allowed to support provision of specialist homes to rent
• Abolishing Disposable Proceeds Funds
• Can bid for Firm and Indicative schemes
• Indicative schemes cannot be bid where these complete in 2016 to 2017. Where allocations are made to indicative proposals these must be progressed to firm schemes according to the following schedule:
– by no later than 31 March 2017 for schemes completing before 31 March 2018;
– by no later than 31 May 2017 for schemes completing between 01 April 2018 and 31 March 2019;
– by no later than 31 May 2018 for schemes completing between 01 April 2019 and 31 March 2020.
– by no later than 31 May 2019 for schemes completing after 01 April 2020
• Bids assessed on both quantitative and qualitative factors
– Quantative assessment 50% value for money and 50% delivery
– Qualitative factors such as employment and skills, off site manufacture
• Uneven spend profile for capital funding with 90% spread across 18/19, 19/20, and 20/21
• S106 schemes need to prove additionality
• Programme managed through IMS
Iceni Homes is immensely proud of its excellent track record with the HCA and through working closely with its partners during the lead up to the bid submission and looks forward to continuing to build upon this success into the future.
If you have any questions regarding the bid please contact Phil or Emma on 01284 723834