NEW HOMES BONUS – York gets over £700,000

York will be receiving £ 714,173 on 15 April as the final allocation of the New Homes Bonus for City of York Council in Year 1 (2011/12).The New Homes Bonus will fulfil the Government’s Coalition Agreement commitment to provide local authorities with real incentives to deliver housing growth.

The New Homes Bonus means that for each addition to the housing stock, in the City of York Council area, including those brought back into use, the council will receive match funding for the council tax paid for each of the next six years. The Council  will be able to use the money in whatever way it chooses and in particular to make the development more acceptable to local people.

The scheme will be administered by match funding the additional council tax potential from increases in effective housing stock, with an additional £350 per annum for affordable homes, for the following six years. For the first time, it will ensure that the economic benefits of housing growth are more visible to the local authorities and communities where the growth takes place.

All final allocations and further detail on the final scheme design can be found at:

 

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