HCA publishes affordable homes agreement

By: Carl Brown
Source: Inside Housing
Published: 13 July 2011

The Homes and Communities Agency has published a delivery agreement which will form the basis for contracts published under the £1.8 billion affordable homes programme.

Under the agreement, landlords wanting to alter their programme need to issue a 'programme change notice' to the HCA, describing the reasons for the change.

The landlord and HCA would then meet and discuss whether to change the programme based on the original offer, the performance of the bidder and whether circumstances have changed. If no agreement is reached within 20 days, the HCA can terminate the agreement, meaning the landlord would not receive its grant.

In order to qualify for grant, landlords must also publish details of all spend over £500 on all bids of £3 million or more. They also need to maintain an open book system, under which income and development costs are shared with the agency upon request.