News Tower Hamlets Secures £248 Million Funds New Homes Bonus

Tower Hamlets Council has secured £24.8 million this financial year (2015-16) from the government’s New Homes Bonus scheme.

The borough has received more than any other local authority in the country.

The funding comes as a result of the council’s work in ensuring the building and developing of housing. It is recognition from the government of Tower Hamlets’ commitment to ensuring it increases the available housing stock for its residents.

Between 2011 and 2015, Tower Hamlets has increased its housing stock by 14,547, and brought 769 empty homes back into use.

Aman Dalvi, corporate director of development and renewal, said: “Once again the government has recognised the hard work that we do, day in day out, to build affordable housing for the people in this borough. It’s all down to our commitment to making sure that Tower Hamlets becomes a great place to live for everyone.”

Since the inception of the New Homes Bonus scheme in 2010, Tower Hamlets has secured the most amount of funding out of all local authorities in the country – amounting to £74.7 million in five financial years.

The New Homes Bonus is a grant paid by central government to local councils in recognition of the complexities of providing additional homes.

The building of new homes is part of the council’s strategy – A great place to live. This strategy aims to: “make the borough a place where people live in quality affordable housing, located in clean and safe neighbourhoods, served by well-connected and easy to access services and community facilities.”

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