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Cornwall’s housing investment plan

Cornwall’s housing investment plan. Louise Dwelly Corwall Strategic Affordable Housing Manager. Ambitions for new homes. Deliver 1000 affordable homes a year for four years 70% to be for rent 70% to be in the towns Funding for 1,000 RP homes (in addition to HCA packages)

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Cornwall’s housing investment plan

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  1. Cornwall’s housing investment plan • Louise Dwelly • Corwall Strategic Affordable Housing Manager

  2. Ambitions for new homes • Deliver 1000 affordable homes a year for four years • 70% to be for rent • 70% to be in the towns • Funding for 1,000 RP homes (in addition to HCA packages) • Identify 200 HRA infill plots and funding from HRA headroom for 150-200 council homes • £4 million revolving loan funds to CLTs • Cornwall Land Initiative £12.5 m working capital, land and receipts to deliver 1-2 packages of sites

  3. What are we delivering? * estimate

  4. Areas of preference (69% want to live in 20 settlements)

  5. Ambitions for wider housing objectives Cash flow HCA capital for 31 G&T pitches Future scope for extra care capital funded through Council / HRA and HCA Homeless hostel £1 million for empty homes £0.250 million for CPO £0.250 million for loans to private sector landlords Equity loans

  6. Assumptions about delivery sources Rented supply Annual 4 year Housing association activity and HCA investment 266 1,065 Cornwall Council commissioning programme 188 700 Council / private sector delivery partnership 100 400 Cross subsidy schemes in rural areas 75 300 Section 106 on and off site 100 400 Carrick Housing HRA infill (3 year programme) 50 200 779 3,065 Ownership Supply First buy allocations 87 350 Intermediate sale 75 300 Shared ownership 53 210 Community land trusts 50 200 265 1,060 TOTAL 1056 4,125

  7. Smarter Investment £10.2 million for DFGs brought forward but service transformed Delivery targets depend on £19 million of indicative investment from HCA packages Capital receipts from land sales will fund homes without grant Average RP grant must be £ 20,000 per home Continue cross subsidy CLT and private sector loans are self financing Aspiration for match funding for homeless hostel and sheltered housing re-modelling and additional funds for empty homes

  8. Key messages • You are a critical part of delivery • (Cornwall has an ambition to deliver and create opportunities • Rural areas must begin to be self financing through departures • We need to deliver in the top 20 settlements • There needs to be stronger and smarter relationships between sectors in Cornwall

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