MD1393 London Housing Bank

Type of decision: 
Mayoral decision
Date signed: 
15 August 2014
Decision by: 
Boris Johnson MP (past staff), Mayor of London

Executive summary

The Mayor is invited to agree that the GLA will receive and manage £200m of funding from the Department for Communities and Local Government (”DCLG”) to finance, through the London Housing Bank programme, the delivery of approximately 3,000 “Affordable Rent to Buy” homes; and asks the Mayor to commit to repaying DCLG on terms and conditions to be agreed. The Mayor is also invited to approve the re-profiling of budgets related to receipt of £180m of Affordable Homes Guarantee funding into the Mayor’s Housing Covenant programme.

Part 1: Non-confidential facts and advice