Common use of Housing Fund Clause in Contracts

Housing Fund. 2.1 The Housing Fund may only be applied towards any or all of the following initiatives: 2.1.1 increasing the supply of bedspaces in private housing in accordance with the Private Housing Supply Plan in accordance with paragraph 2.6 of this Schedule; 2.1.2 supporting increased supply and availability of bedspaces in tourist accommodation in accordance with the Tourist Accommodation Plan in accordance with paragraph 2.7 of this Schedule; 2.1.3 providing support for East Suffolk Council’s housing advice service through the provision of Housing and Homelessness Services Resilience Measures in accordance with paragraph 2.8 of this Schedule. 2.2 When considering how to apply the Housing Fund, East Suffolk Council shall take into account any recommendations of the Accommodation Working Group and the extent to which the proposed initiative: 2.2.1 is an effective means to mitigate the potential effects of the Project; 2.2.2 gives priority to localities where the direct impacts of the Project are anticipated to be experienced; 2.2.3 provides value for money; 2.2.4 where the initiative aims to increase the supply of bedspaces: (A) would deliver bedspaces prior to the sixth anniversary of the Commencement Date; and (B) offers the potential for recycling the Housing Fund so that it can be reinvested in other housing initiatives, as far as reasonably practicable. 2.3 On or before Commencement, and annually on or before the first six anniversaries of the Commencement Date, SZC Co shall pay £[●] to East Suffolk Council to be applied solely to towards administration, expenses, or other related costs of the elements of the Housing Fund identified at paragraphs 2.6. 2.4 During the Construction Period, on or before Commencement and annually on or before each anniversary of the Commencement Date, SZC Co shall pay £[●] to East Suffolk Council to be applied solely towards administration, expenses, or other related costs of the elements of the Housing Fund identified at paragraphs 2.7 and 2.8. 2.5 The maximum liability of SZC Co pursuant to this paragraph 2 is £[●].

Housing Fund. ‌ 2.1 [●] 2.1 The Housing Fund may only be applied towards any or all of the following initiatives: 2.1.1 increasing the supply of bedspaces in private housing in accordance with the Private Housing Supply Plan in accordance with paragraph 2.6 of this Schedule; 2.1.2 supporting increased supply and availability of bedspaces in tourist accommodation in accordance with the Tourist Accommodation Plan in accordance with paragraph 2.7 of this Schedule; 2.1.3 providing support for East Suffolk Council’s housing advice service through the provision of Housing and Homelessness Services Resilience Measures in accordance with paragraph 2.8 of this Schedule. 2.2 When considering how to apply the Housing Fund, East Suffolk Council shall take into account any recommendations of the Accommodation Working Group and the extent to which the proposed initiative: 2.2.1 is an effective means to mitigate the potential effects of the Project; 2.2.2 gives priority to localities where the direct impacts of the Project are anticipated to be experienced; 2.2.3 provides value for money; 2.2.4 where the initiative aims to increase the supply of bedspaces: (A) would deliver bedspaces prior to the sixth anniversary of the Commencement Date; and (B) offers the potential for recycling the Housing Fund so that it can be reinvested in other housing initiatives, as far as reasonably practicable. 2.3 On or before Commencement, and annually on or before the first six anniversaries of the Commencement Date, SZC Co shall pay £[●] to East Suffolk Council to be applied solely to towards administration, expenses, or other related costs of the elements of the Housing Fund identified at paragraphs 2.6. 2.4 During the Construction Period, on or before Commencement and annually on or before each anniversary of the Commencement Date, SZC Co shall pay £[●] to East Suffolk Council to be applied solely towards administration, expenses, or other related costs of the elements of the Housing Fund identified at paragraphs 2.7 and 2.8. 2.5 The maximum liability of SZC Co pursuant to this paragraph 2 is £[●].

Housing Fund. ‌ 2.1 The Housing Fund may only be applied towards any or all of the following initiatives: 2.1.1 increasing the supply of bedspaces in private housing in accordance with the Private Housing Supply Plan in accordance with paragraph 2.6 of this Schedule; 2.1.2 supporting increased supply and availability of bedspaces in tourist accommodation in accordance with the Tourist Accommodation Plan in accordance with paragraph 2.7 of this Schedule; 2.1.3 providing support for East Suffolk Council’s housing advice service through the provision of Housing and Homelessness Services Resilience Measures in accordance with paragraph 2.8 of this Schedule. 2.2 When considering how to apply the Housing Fund, East Suffolk Council shall take into account any recommendations of the Accommodation Working Group and the extent to which the proposed initiative: 2.2.1 is an effective means to mitigate the potential effects of the Project; 2.2.2 gives priority to localities where the direct impacts of the Project are anticipated to be experienced; 2.2.3 provides value for money; 2.2.4 where the initiative aims to increase the supply of bedspaces: (A) would deliver bedspaces prior to the sixth anniversary of the Commencement Date; and (B) offers the potential for recycling the Housing Fund so that it can be reinvested in other housing initiatives, as far as reasonably practicable. 2.3 On or before Commencement, and annually on or before the first six anniversaries of the Commencement Date, SZC Co shall pay £[●] to East Suffolk Council to be applied solely to towards administration, expenses, or other related costs of the elements of the Housing Fund identified at paragraphs 2.6. 2.4 During the Construction Period, on or before Commencement and annually on or before each anniversary of the Commencement Date, SZC Co shall pay £[●] to East Suffolk Council to be applied solely towards administration, expenses, or other related costs of the elements of the Housing Fund identified at paragraphs 2.7 and 2.8. 2.5 The maximum liability of SZC Co pursuant to this paragraph 2 is £[●].