MD1481 Housing Zones – Financial Transaction

Type of decision: 
Mayoral decision
Code: 
MD1481
Date signed: 
26 March 2015
Decision by: 
Boris Johnson MP (past staff), Mayor of London

Executive summary

The Mayor is asked to agree to the GLA (and or GLA Land and Property (“GLAP)) receiving up to £200m of funding from the Department for Communities and Local Government (”DCLG”) and administering the funding to unlock and accelerate housing delivery through the Mayor’s Housing Zones programme. In total 20 Housing Zones are expected to deliver approximately 50,000 homes by 2025. The GLA will be required to use this funding and repay DCLG in line with the terms contained in Part 2 of this paper, and in accordance with a final agreement with DCLG to be agreed to and entered into by the Executive Director – Resources, under delegated authority conferred Mayoral Decision and, where applicable, GLAP.

Part 1: Non-confidential facts and advice