Common use of Purpose of the Funding Clause in Contracts

Purpose of the Funding. 4.1. LAHF R3 funding has been provided specifically for spending on LAHF R3 priorities as specified at 2.2 to deliver properties for use by households that meet the LAHF R3 eligibility criteria and the Council agrees to spend LAHF R3 funding on activity set out in this MOU as agreed with MHCLG or subsequently agreed with MHCLG as per Paragraph 5.5. 4.2. LAHF R3 funding is unlikely to meet all the Council’s acquisition/ delivery costs. The Council or its delivery partner(s) will fund any outstanding sum required. 4.3. The Council will use its best endeavours to meet the delivery target and to achieve value for money. The Council should ensure it complies with the Code of Practice for Local Authority Accounting. 4.4. The Council may determine how it uses the total allocation and the revenue funding as long as the delivery target and the new home delivery target are met. 4.5. Revenue funding has been provided to the Council for any activities which support delivery of the total allocation, including but not limited to programme/ administration resource or professional services (e.g., fees, conveyancing). Revenue funding will be paid in full alongside the Tranche 1 allocation.

Purpose of the Funding. 4.1. LAHF R3 funding has been provided specifically for spending on LAHF R3 priorities as specified at 2.2 to deliver properties for use by households that meet the LAHF R3 eligibility criteria criteria, and the Council agrees to spend LAHF R3 funding on activity set out in this MOU as agreed with MHCLG DLUHC or subsequently agreed with MHCLG DLUHC as per Paragraph 5.5. 4.2. LAHF R3 funding is unlikely to meet all the Council’s acquisition/ delivery costs. The Council or its delivery partner(s) will fund any outstanding sum required. 4.3. The Council will use its best endeavours to meet the delivery target and to achieve value for money. The Council should ensure it complies with the Code of Practice for Local Authority Accounting. 4.4. The Council may determine how it uses the total allocation and the revenue funding as long as the delivery target and the new home delivery target are met. 4.5. Revenue funding has been provided to the Council for any activities which support delivery of the total allocation, including but not limited to programme/ administration resource or professional services (e.g., fees, conveyancing). Revenue funding will be paid in full alongside the Tranche 1 allocation.