Social Impact Bond for rough sleepers

Meeting: 
MQT on 2015-09-16
Session date: 
September 16, 2015
Reference: 
2015/2574
Question By: 
Stephen Knight
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor

Question

Please provide an update on the emerging results of the Social Impact Bond (SIB) for rough sleeping, begun in 2012. If successful, will you look to create a similar SIB in addition to the projects and programmes you have already commissioned for forthcoming years?

Answer

Answer for Social Impact Bond for rough sleepers

Answer for Social Impact Bond for rough sleepers

Answered By: 
The Mayor

The emerging results of the Rough Sleeping Social Impact Bond were published in a report to the Investment & Performance Board on 18 Aug 2015, and can be found here: http://www.london.gov.uk/moderngov/documents/s48981/11_Rough%20sleeping%20Social%20Impact%20Bond.pdf

Based on the experience and success of the current SIB, I am intending to have an element of 'payment by results' for the London Reconnections and Tenancy Support Team service contracts when they are recommissioned later this year.