Private Sector Renewal Pot

News

Author	Jessica Jubb, LGYH
Date	Thursday, November 5, 2009
Topic	Housing Settlements Governance & Civic Participation Infrastructure

As you know, the Regional Regeneration and Housing Board has to advise Ministers by 27th November on the Local Authority allocations of the Private Sector Renewal Pot and the associated outputs.

The RRHB discussed this issue at its meeting on 25th September, with particular reference to the 20% cut, and the level of support to the regional schemes - the Regional Loans Scheme and the Regional Mortgage Rescue Scheme.

The Board delegated to LGYH officers to work with sub-regions to agree on the appropriate level of support for these scheme, but having a particular regard to flexibility to help sub-regions manage the impact of the 20% reduction.

Since 25th September, this work has carried on intensively, and it is now proposed that:-

the Regional Loans Scheme is supported regionally at £1.878m for 2010/11 with the facility for sub-regions to make separate arrangements with the scheme for additional ringfenced amounts if they wish, and depending on their own level of demand, and
the Regional Mortgage Rescue Scheme is allocated no additional regional funds but again, sub-regions can make their own arrangements with the scheme once the level of demand is a little clearer.

This proposal will give the Regional Loans Scheme the certainty that it has enough funding to allow it to function effectively, whilst allowing sub-regions and local authorities time to look again at their programmes and decide to what extent they wish to work with the scheme over the year.

As the Regional Mortgage Rescue scheme is quite new, the level of demand is difficult to ascertain at this point, and this proposal will again allow partners to assess the situation in the coming months.

I know that sub-regional officers have worked closely with their Board representatives to reach this proposal, but, for clarity, before I present the final allocations to Kris Hopkins, I would be grateful if you would confirm to me that you are content with this solution.

Carole Cozens, Principal Housing Policy Manager
Local Government Yorkshire and Humber
01924 331555

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