Birmingham City Council set for bumper £15m of new homes bonus funding
16th December 2013
A Department for Communities and Local Government led scheme to help local councils increase the number of homes and their use has provisional allocations for Birmingham City Council set at £15,082,497.82 during the Grant Determination 2014-2015.
Birmingham City Council’s total provisional units for reward in year 4 are estimated at 3,627, of which 2,161 are new homes and 1,466 for empty homes brought back into use. There is also an extra payment for the 557 affordable homes constructed.
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.
The £916 million of provisional New Homes Bonus allocations to all Local Authorities announced for 2014 to 2015 brings the total to £2.2 billion over the 4 years between 2011 and 2015. Of that, £1 billion is additional grant provided by DCLG.
Link to the DCLG New Homes Bonus announcement
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