Housing Association surpluses

Meeting: 
MQT on 2014-11-19
Session date: 
November 19, 2014
Reference: 
2014/4485
Question By: 
Murad Qureshi
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

To what extent, do you take annual surpluses into account before allocating capital grants to Housing Associations?

Answer

Answer for Housing Association surpluses

Answer for Housing Association surpluses

Answered By: 
The Mayor

When applying grant to housing schemes the GLA considers all sources of funding used to support the development, including funds from the housing provider's own resources. This is considered in relation to the overall total scheme costs and value for money offered for GLA funding contributing to the scheme. 

Housing Association surpluses are used to support the long term business models for each organisation including, amongst other things, support for housing development and other objectives for the organisation.