Birmingham City Council seals £10m of new homes bonus funding
4th May 2013
A Department for Communities and Local Government led scheme to help local councils increase the number of homes and their use has awarded Birmingham City Council £10,269,899 during the Grant Determination 2013-14.
The pay-out was the highest allocation given to a Local Council and will be paid in 12 monthly instalments.
Birmingham City Council’s total units for reward in year 3 came to 2,258, of which 2,115 were new homes and 143 were for empty homes brought back into use.
The New Homes Bonus is paid each year for 6 years. It’s based on the amount of extra Council Tax revenue raised for new-build homes, conversions and long-term empty homes brought back into use. There is also an extra payment for providing affordable homes.
The DCLG has paid out £668.3m in New Homes Bonus allocations for 2013 to 2104, from a fund of almost £1 billion set aside for the Comprehensive Spending Review period (2011 to 2015).
New Homes Bonus Scheme Grant Determination (2013-14) pdf
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