MD1379 Mayor’s Housing Covenant 2015-18 Programme Recommendations

The Mayor’s Housing Covenant 2015-18 programme prospectus was launched in December 2013 inviting bids from housing providers offering affordable homes for rent and home ownership across London. The prospectus also invited expressions of interest from providers proposing innovative ways of delivering affordable housing through a revolving investment fund. Bids were received in March 2014, discussed with bidders in April and assessed and moderated in May to June 2014.

Approval is sought for £489.5m allocation of funding, plus a further £136.7m from Recycled Capital Grant Funding/Disposals Proceeds Fund as a contribution to recipients’ costs of delivering 21,307 homes under the Mayor’s Housing Covenant 2015-18 Programme.