A list of the Homes and Communities Agency's associates and subsidiaries and its proportionate shareholding is disclosed in its Financial Statements for 2008-09, as laid in the House (pages 81 and 82).
The main reasons for holding these investments is to further the business of the agency in pursuit of its strategic objectives.
The carrying values of the agency's investments in the Financial Statements are assessed each year. This assessment is scrutinised by the National Audit Office as part of their annual audit work.
Information on spending on Places of Change, the Thames Gateway and growth was published in the Homes and Communities Agency's Annual Report and Financial Statement for 2008-09, and in the financial statements of its predecessor bodies: the Housing Corporation, English Partnerships and the Department for Communities and Local Government for preceding years, as lodged in the House Library.
I refer the hon. Member to the Homes and Communities Agency's 2008-9 Annual Report which includes information about the HCA Academy's staff costs.
A copy of the Annual report and Accounts can be found in the Library of the House. They can also be found at the following web link.
The HCA Academy's project and consultancy spend on the projects listed above are as follows:
Workstream Total spend Consultancy spend National and Regional Delivery Structure 30 30 Brownfield Skills 21 20 Endorsement Framework 46 46 Benchmark and Tool Kit 113 98 Practical knowledge to support delivery 127 100 Programme staff costs 261 0
National and Regional Delivery Structure
Benchmark and Tool Kit
Practical knowledge to support delivery
Programme staff costs
The spend on programme staff costs include staff salaries, expenses and costs for staff seconded in from other organisations.
Since the Mortgage Rescue scheme's inception, the HCA has worked with the Government to ensure support is available for the most vulnerable households to avoid repossession and remain in their home by taking a lead role in working with and monitoring the performance of those RSLs delivering the scheme.
In May 2008, the Government announced a plan to take advantage of market opportunities to bring private sector developer stock into the affordable housing sector by earmarking £200 million of funding through the Housing Corporation (the Homes and Communities Agency's predecessor) National Affordable Housing programme (NAHP) budget for the purchase of homes from house builders.
To help facilitate the scheme, the Corporation set up the National Clearing House to streamline initial assessment of national packages of at least 250 units from private sector house builders. The Housing Corporation's Investment partners, mainly Registered Social Landlords, wishing to buy smaller numbers of units from developers could bid for funding directly to the Corporation in the normal way.
I refer the hon. Member to the reply given to him by my right hon. Friend the Member for Derby South on 21 May 2009, Official Report, column 1540-42W.
Allocations by housing associations are published on the Homes and Communities Agency website. Details of historic allocations can be found on the Housing Corporation website.
The Homes and Communities Agency (HCA) does not own any of the current HomeBuy properties, but holds a second charge on HomeBuy Direct and First Time Buyers Initiative properties. No estimate is made as to the average entitlement per household for these as actual entitlement to proceeds of future sales is dependent on when the properties are sold and the price achieved at the point of sale. The HCA and developer/provider of the properties are entitled to a share of sales proceeds in proportion to the percentage of equity loan provided while the household is entitled to the remainder.
The Homes and Communities Agency provided £150,000 capital funding under the Places of Change programme towards the 'Key Garden' at the Chelsea Flower Show 2009. The garden was developed by over 200 homeless people from 25 homelessness services and prisons nationwide, in partnership with the Eden Project.
The Homes and Communities Agency (HCA) is entitled to a share of sales proceeds when homes bought through HomeBuy Direct are sold by the purchaser. The scheme became operational in February 2009. No estimate has been made of the monetary value of the HCA's entitlements to future sales proceeds as it is dependent on when full or partial redemption of the equity loans are made and what the value of the loans are at the point of redemption.
Grant invested in OwnHome, MyChoice HomeBuy (Open Market HomeBuy products), New Build HomeBuy and Social HomeBuy properties, through registered social landlords (who own the properties) is credited to the Recycled Capital Grant Fund (RCGF) for provision of new social lets or other low cost homes when the properties are sold whole or through shared ownership terms.
It is convention to record PFI credits in the financial year in which contracts are signed. Since the creation of the Homes and Communities Agency, PFI credits for housing projects have continued to be issued by this Department.
Housing PFI credits issued in each of the last financial years have been:
£ million 2009-10 (to date) 0 2008-09 137.9 2007-08 283.4
2009-10 (to date)
Details of the targets for low cost home ownership starts in 2008-09 are set out in the Housing Corporation Annual Report and Accounts 2008-09, and the target for 2009-10 is set out in the Homes and Communities Agency Corporate Plan 2009-10— 2010-11, copies of which have been placed in the Library of the House.
Since 1 December 2008, the Homes and Communities Agency Rural Housing Advisory Group have met on 30 January, 13 May and 11 September 2009. The minutes of the meetings are available on the Homes and Communities website at: