The Trust
The charitable institution that commissions, owns and manages the homes.
Read articleLand · Investment · Long-term stewardship
Funding
The money, assets and institutions behind the homes.
Each part explained, with links to the proposal.
Each contribution has a defined role
Public land provides the sites. Infrastructure grants prepare them. Bonds fund the homes. Rent pays for their long-term operation and repays investors.
- Public land
The landowner retains the freehold and grants a peppercorn lease.
- Infrastructure
The pilot requires Homes England grant funding to prepare the sites.
- Construction
Bond proceeds fund the homes and the associated programme costs.
- Operation and repayment
Residents’ rent pays bond service, maintenance provision and management.
The Trust holds these arrangements together as landlord and bond issuer. Government purchases the pilot bonds as anchor investor; subsequent investment draws on the delivery and rental record. The infrastructure grant is additional to the bond-funded programme.
Read the source: How the system works · Government’s pilot role · Infrastructure
Public land is a public contribution
Peppercorn leases, retained public ownership and the value contributed by the landowner.
Page to followThe bonds fund the homes
The investment, inflation linking, repayment, trading and investment risk.
Page to followGovernment starts the programme
The pilot’s anchor purchaser, construction-stage funding and the route to subsequent investment.
Page to followHomes England funds the infrastructure
The grant-funded roads, drainage, utilities and preparation that make the sites ready.
Page to followThe rent sustains the system
Bond payments, maintenance, management, reserves and the reinvestment cycle.
Page to followSubsidies and public support
The treatment of discounted land, infrastructure grants and government investment.
Page to followTax treatment
The Trust, construction, lease transactions and investors: existing provisions and requested changes.
Page to followCIL and Section 106
Development contributions, the proposal’s approach and the responsibilities that remain.
Page to follow