Unlike student loans, this grant program is free money for college, so students will not have to repay the funds. 2.1.3 Depending upon which relevant event has triggered grant recovery, Registered Providers will either be required to repay grant to Homes England, or will have the option of recycling it through their Recycled Capital Grant Fund to spend on permitted uses (see section 6). 2.1.2 The term relevant event comes from the Registered Provider Recovery Determination and must be read in this section to mean relevant events as defined in that Determination. Considering the projects that were awarded funding in round 1 of the SSG, we would particularly welcome proposals in round 2 to: Guelder rose and wych elm were previously identified as priority species but have been removed as several projects to address these strategies are currently underway. To help make the case Registered Providers should provide supporting documentation that should be included alongside the written calculation to confirm the figures used in the calculation. 3.4.4.13 Where a reduction in recoverable grant is sought, Registered Providers must obtain Homes Englands prior consent, which will only be given in exceptional situations. 3.4.4.14 If the net sales receipt is insufficient to enable the recovery of all grant attributable to the property or land, the amount of recoverable grant may, at Homes Englands discretion, be reduced by the shortfall. Shared owners must be able to show that other short and long term options, such as loan rescheduling, or selling and moving to cheaper property within a reasonable travel to work area have been exhausted, Registered Providers must also take into account the shared owners ongoing ability to meet future repair and maintenance liabilities, Future sustainability should be based upon advice from an independent debt-counselling agency, and should include consideration of housing benefit eligibility. Opening date: 27 June 2023, 12:01am. You have accepted additional cookies. There will be circumstances in which a provider already had adequate knowledge of the state of a property either because of an earlier Right to Buy sale or for some other reason. 3.4.4.21 Sales on Shared Ownership terms of property included in an Estates Renewal Challenge Fund Programme will be subject to grant recovery, except when such sales without recovery were agreed as part of the Estates Renewal Challenge Fund delivery plan. Providers should operate in line with the Governments Policy statement on rents for social housing and the Regulator of Social Housings Rent Standard. Applicants may submit more than one bid during each funding round, but each lead applicant may only apply for a maximum of 75,000 per annum, across all their bids in a given funding round. A grant that the federal government offers to students based on financial need. 2.3.1 Through provisions made in the Registered Provider Recovery Determination, Homes England requires that Registered Providers notify them upon the occurrence of a relevant event or discovery that a relevant event will take place. You may therefore proceed with a grant-making process. 5.1.4 Registered Providers should note that not all relevant events referred to in the Registered Provider Recovery Determination allow an option to recycle grant and Homes England will require grant to be repaid if these events occur please refer to section 2 for more details. SSG will help to ensure the availability of planting stock to meet these targets. 3.4.4.18 Registered Providers may deduct the following eligible deductions from the gross sale receipt: 3.4.4.19 However, no administrative allowance may be deducted. Please see guidance below for details of what is classified an outright sale.. Registered Providers should not forward a payment in advance of receiving an invoice. A property is demolished and the original 50,000 grant remains dormant in the land. Note that where a 1% staircasing transaction is being undertaken on homes funded through the AHP 2021 to 2026 then there is no requirement to obtain a RICS valuation as the valuation is derived using the Land Registrys House Price Index. Registered Providers are required to inform Homes England immediately of their deregistration application. 2.3.5 Registered Providers should note that whilst Shared Ownership staircasing transactions are relevant events for the purpose of grant recovery, they are exempt from the notification process outlined in 2.3.2 above. See Marketing forest reproductive material for forestry purposes for more details. The prior consent of Homes England is required. floating support, The nature, type and condition of the building, currently and in future, To provide higher quality accommodation and tenancy management than would have been available on the open market, at market rent levels, The resultant vacant site remains in the Registered Providers ownership, The site is to be used for non-income earning purposes (such as forming an open space or facilitating the realignment of roads), A compensation payment is received by the Registered Provider, Reasonable expenses incurred (excluding the costs of demolition), An outright sale to a sitting tenant other than on Right to Buy/Right to Acquire/Social HomeBuy terms, Reasonable valuation fees and expenses; and. 3.4.3.1 If the property is be demolished because it has reached the end of its useful life (considering such factors as age, location, physical condition and property type in the context of current needs or market conditions) or because alternatives such as refurbishment are considered to be unviable, then Homes England will not normally recover grant at that time, but will consider deferring recovery until a subsequent relevant event occurs. 750,001 to 1,000,000 Base lending rate minus 25 basis points This is because there are no costs of sale, as there is no sale, only the redemption of the loan. To seek approval of a roll-over request, Registered Providers should approach their contract manager or the Housing Programmes Programmes & Policy team and provide a full written explanation of: Requests will be agreed only on a case-by-case basis and at the sole discretion of Homes England. 3.1.1 This section sets out the basis for Registered Providers to calculate recoverable grant following one of the relevant events set out in the Registered Provider Recovery Determination (please see section 1.2.2). 3.4.4.59 The Right to Shared Ownership is only applicable to new Affordable Rent or Social Rent homes funded and delivered as part of the Affordable Homes Programme (AHP) 2021 to 2026. For Right to Shared Ownership initial grant recovery, please see section 3.4.4.58 Right to Shared Ownership. The balance of 7,000 grant remains in the property. Conversion includes: 1.3.2 Normally in the above circumstances, Registered Providers would be required to consider whether there may have been a relevant event such as a change of use or disposal and, if so, whether grant would be due to be recycled via the Recycled Capital Grant Fund. the sum of the mortgage companys reasonable and proper expenses incurred in: 3.4.4.33 Policy in respect of defaulting shared owners is contained in the Shared Ownership joint guidance. For a comment please see below. The source of all information on approved Basic Material. In any given financial year, applicants will be able to submit claims at the end of the financial year, and on one other date of their choosing. In order to determine the notional gross sales receipt Registered Providers are required to obtain a valuation of the property from an independent RICS accredited qualified valuer on the assumptions of the below. Please refer to annex A of the SOAHP 2016 to 2021 Prospectus which details Homes Englands minimum geographies and local authorities contained within each of the minimum geographies. Any subsequent relevant event connected with the replacement property would lead to grant recovery under the same requirements and procedures as if the property had originally received the grant. 4.1.2 The following principles of apportioning grant where a relevant event has occurred within schemes applies regardless of the programme under which funding has been given. At 31 March an Annual IMS End of Year Return should be made for both the receiving and the transferring Registered Provider (the latter covering the period to transfer). For more information on review meetings, please see Programme Management section 2.3. Given the length of time that has now elapsed since discounts under Tenant Incentive Schemes were available, Homes England does not envisage any recovery issues arising in the future. a shortfall on one dwelling in the scheme is not rolled forward to other dwellings in the scheme. 6.5.5 This can include repurchasing sufficient equity to: 6.5.6 In order to meet the needs as per the above paragraph, the repurchase of shares by Registered Providers under Flexible Tenure is not restricted to particular tranches in the same way as for upward staircasing. 3.3.2.1 Where an approval is cancelled, Homes England will normally require repayment of all grant paid for the scheme without eligible deductions, plus any interest due as per section 2.4. Registered Providers may not deduct any administration allowance. 6.3.8 Registered Providers participating in the Voluntary Right to Buy will not be required to separately report on reinvestment of recovered grant arising from disposals under the Voluntary Right to Buy outside the existing annual IMS reporting requirements. For some guidance on why there may be a shortfall please see below. If you consider the information contained within your application to be commercially sensitive, you must notify the Forestry Commission of this when submitting your application. They have claimed this would amount to state aid. The sale price, irrespective of eligible discount, is 100,000, which is what the tenant will have to pay. Grant is an extremely useful way for a public body to fund a third sector organisation (TSO) for activity that is in line with one or more of the public body's objectives. We are looking for providers to come forward to identify the need for digital upskilling within CIoS and provide targeted, specialist digital skills support to train and/or retrain individuals or to support them to progress within the digital skills field of work. Any grant you propose to make should not contravene EU rules on state aid. ago 4.5.4 For Rural Restricted Equity and some Protected Area properties, a cap is placed on the proportion of equity that the shared owner can purchase, e.g. The Forestry Commission will aim to notify applicants of the outcome of their application by 16 August 2023. The SEOG may be used to pay for education expenses (up to $4,000) for a first bachelor's degree. 3.4.1.8 Registered Providers must discuss proposals with the Housing Programmes - Programmes & Policy team who will consider individual cases on their own merit taking into account: 3.4.1.9 Homes Englands agreement to a temporary change of use to one which is non grant eligible will last for 12 months. The remaining 25% of market value was treated as an equity loan provided to the purchaser by the Registered Social Landlord. 5.9.4 If, by 31 March of the year in question, Registered Providers have entered into a written contractual commitment to incur expenditure on permitted uses, then that amount of recycled grant can be treated as having been spent. If there is any money left over after the loan has been paid off and the Registered Provider has been paid, the mortgage company passes it to the leaseholder. 3.4.4.54 The net sales receipt of Right to Buy sales must be used to recover all grant attributable to the property in question. We are unlikely to fund work that duplicates activities already funded in round 1 so please refer to this list when considering your application. See paragraph 6.5.12 for more details. 5.8.9 Any agreement to roll-over will initially be for one year only and will be subject to Homes Englands monitoring. Find out how to make a complaint or appeal. 3.4.4.37 Where the leaseholders mortgage company has used the Mortgagee Protection Clause in the Shared Ownership lease, and the Registered Provider has suffered a shortfall on staircasing receipts, recoverable grant may be written off by the Registered Provider or deferred (without prior consent of Homes England) if the Registered Provider confirms in supporting documentation that they: 3.4.4.38 In deciding what action is reasonable to pursue the debt Registered Providers should obtain written legal advice. If Registered Providers wish to use recycled grant to support delivery of homes on a section 106 site, they should contact the Homes England Growth Team for a decision. Successful applicants will be required to complete a report at the end of each financial year and at the end of the project, detailing achievement against stated outcome and outputs, lessons learnt, a complete cost breakdown outlining how the grant funding has been spent and any need for further development. This could be for as little as two years. The remaining 27% is to be retained by the provider. Therefore, Registered Providers auditors must have regard to the disclosure of Recycled Capital Grant Fund balances and transactions and the overall accuracy of the return within their sign-off of a Registered Providers accounts (see section 5.4). 1.1.1 In defined circumstances, capital grant is subject to recovery by Homes England. For Shared Ownership homes delivered through the AHP 2021 to 2026 the new model for shared ownership sees the minimum general staircasing transaction reduce from 10% to 5%, together with the introduction of the option for shared owners to staircase in 1% increments per year for the first 15 years. There is some confusion about when grant can and cannot be used. 7.3.2 Registered Providers who do not have access to IMS and require help should follow the link, and then do one of the following: For further advice on what information will be needed regarding IMS access and / or end of year returns, including what to do regarding any previous end of year returns that may be due, Registered Providers should contact their relevant Contract Manager or email rcgf@homesengland.gov.uk. 5.8.5 Registered Providers must not simply send payment to Homes England without having first received an invoice. It provides 600 for the first child and 300 for each subsequent child . 5.7.6 Transfer of sums between organisations fund does not reset the three year repayment schedule. It is strongly recommended that the Cabinet Office Model Grant Funding Agreement (MGFA) is used as the default agreement for government general grants. Wed also like to use analytics cookies so we can understand how you use the service and make improvements. For details of how to submit the end of year return, please see the IMS guidance page (please scroll to the bottom of the page). We use some essential cookies to make this service work. Property / scheme details (e.g. The Registered Provider should notify their contract manager who will notify the affected areas. Yes. 3.3.9.3 Unless Homes England agrees that exceptional circumstances exist, the sums in the Registered Providers Recycled Capital Grant Fund are to be repaid immediately. service charges cannot be increased above the estimate except to take account of prescribed inflationary allowances. 3.1.7 The relevant events detailed in paragraphs 7(a) to (f) of the Registered Provider Recovery Determination cover grant paid in error or in excess of requirements and circumstances where a Registered Provider does not act in accordance with their contract, the Registered Provider Recovery Determination, this guide or other published requirements. a change of control). We also use cookies set by other sites to help us deliver content from their services. These schemes had a requirement that discounts received by tenants would need to be repaid if the property was disposed of within three years of purchase. Previous applicants to the SSG, whether successful or unsuccessful, are able to reapply in this round. 5.8.10 A further roll-over is unlikely unless there are exceptional circumstances, and require a further written request by the Registered Provider.
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