Common use of Purpose of the Funding Clause in Contracts

Purpose of the Funding. 3.1. LAHF R2 funding has been provided specifically for spending on LAHF R2 priorities and the Council agrees to spend LAHF R2 funding on activity set out in this MOU as agreed by DLUHC or subsequently agreed by DLUHC as per Paragraph 4.4. 3.2. DLUHC will part fund the cost of the Council obtaining properties for use by households that meet the eligibility criteria. The Council will use its best endeavours to meet the delivery target and to achieve value for money. DLUHC’s contributory share of funding (‘the average grant rate per unit’) should not exceed the maximum described below but the grant per unit for individual properties can be higher. 3.3. The maximum average grant rate per unit (for the portfolio of all properties, not individual purchases) is calculated as 40% of the costs of acquisition or refurbishment that the council charges to its capital budget plus £20,000 per property. Eligible costs funded by the 40% and the £20,000 per property could include the purchase price, stamp duty, surveying, legal and other fees, refurbishments, energy efficiency measures, decoration, furnishings, or otherwise preparing the property for rent and potentially irrecoverable VAT incurred on these items. The Council should ensure it complies with the Code of Practice for Local Authority Accounting. 3.4. The Council can determine how it uses the £20,000 per property and can choose how much of the grant is to be spent on each individual property. 3.5. The Council or its delivery partner(s) will fund the outstanding share for each property. 3.6. The funding will be provided by DLUHC in two tranches. The ‘Tranche 1 allocation’ is 30% of the total allocation. The ‘Tranche 2 allocation’ is 70% of the total allocation. Both are set out in Table 1. Table 1 – Funding allocation Tranche 1 allocation Tranche 2 allocation Total allocation Total funding £2,400,000 £5,600,000 £8,000,000

Purpose of the Funding. 3.1. LAHF R2 funding has been provided specifically for spending on LAHF R2 priorities and the Council agrees to spend LAHF R2 funding on activity set out in this MOU as agreed by DLUHC or subsequently agreed by DLUHC as per Paragraph 4.4. 3.2. DLUHC will part fund the cost of the Council obtaining properties for use by households that meet the eligibility criteria. The Council will use its best endeavours to meet the delivery target and to achieve value for money. DLUHC’s contributory share of funding (‘the average grant rate per unit’) should not exceed the maximum described below but the grant per unit for individual properties can be higher. 3.3. The maximum average grant rate per unit (for the portfolio of all properties, not individual purchases) is calculated as 40% of the costs of acquisition or refurbishment that the council charges to its capital budget plus £20,000 per property. Eligible costs funded by the 40% and the £20,000 per property could include the purchase price, stamp duty, surveying, legal and other fees, refurbishments, energy efficiency measures, decoration, furnishings, or otherwise preparing the property for rent and potentially irrecoverable VAT incurred on these items. The Council should ensure it complies with the Code of Practice for Local Authority Accounting. 3.4. The Council can determine how it uses the £20,000 per property and can choose how much of the grant is to be spent on each individual property. 3.5. The Council or its delivery partner(s) will fund the outstanding share for each property. 3.6. The funding will be provided by DLUHC in two tranches. The ‘Tranche 1 allocation’ is 30% of the total allocation. The ‘Tranche 2 allocation’ is 70% of the total allocation. Both are set out in Table 1. Table 1 – Funding allocation Tranche 1 allocation Tranche 2 allocation Total allocation Total funding £2,400,000 201,600 £5,600,000 470,400 £8,000,000672,000

Purpose of the Funding. 3.1. LAHF R2 funding has been provided specifically for spending on LAHF R2 priorities and the Council agrees to spend LAHF R2 funding on activity set out in this MOU as agreed by DLUHC or subsequently agreed by DLUHC as per Paragraph 4.4. 3.2. DLUHC will part fund the cost of the Council obtaining properties for use by households that meet the eligibility criteria. The Council will use its best endeavours to meet the delivery target and to achieve value for money. DLUHC’s contributory share of funding (‘the average grant rate per unit’) should not exceed the maximum described below but the grant per unit for individual properties can be higher. 3.3. The maximum average grant rate per unit (for the portfolio of all properties, not individual purchases) is calculated as 40% of the costs of acquisition or refurbishment that the council charges to its capital budget plus £20,000 per property. Eligible costs funded by the 40% and the £20,000 per property could include the purchase price, stamp duty, surveying, legal and other fees, refurbishments, energy efficiency measures, decoration, furnishings, or otherwise preparing the property for rent and potentially irrecoverable VAT incurred on these items. The Council should ensure it complies with the Code of Practice for Local Authority Accounting. 3.4. The Council can determine how it uses the £20,000 per property and can choose how much of the grant is to be spent on each individual property. 3.5. The Council or its delivery partner(s) will fund the outstanding share for each property. 3.6. The funding will be provided by DLUHC in two tranches. The ‘Tranche 1 allocation’ is 30% of the total allocation. The ‘Tranche 2 allocation’ is 70% of the total allocation. Both are set out in Table 1. Table 1 – Funding allocation Tranche 1 allocation Tranche 2 allocation Total allocation Total funding £2,400,000 306,000 £5,600,000 714,000 £8,000,0001,020,000

Purpose of the Funding. 3.1. LAHF R2 funding has been provided specifically for spending on LAHF R2 priorities and the Council agrees to spend LAHF R2 funding on activity set out in this MOU as agreed by DLUHC or subsequently agreed by DLUHC as per Paragraph 4.4. 3.2. DLUHC will part fund the cost of the Council obtaining properties for use by households that meet the eligibility criteria. The Council will use its best endeavours to meet the delivery target and to achieve value for money. DLUHC’s contributory share of funding (‘the average grant rate per unit’) '/8+&¶V FRQWULEXWRU\ VKDUH RI IXQGLQJ should not exceed the maximum described below but the grant per unit for individual properties can be higher. 3.3. The maximum average grant rate per unit (for the portfolio of all properties, not individual purchases) is calculated as 40% of the costs of acquisition or refurbishment that the council charges to its capital budget plus £20,000 per property. Eligible costs funded by the 40% and the £20,000 per property could include the purchase price, stamp duty, surveying, legal and other fees, refurbishments, energy efficiency measures, decoration, furnishings, or otherwise preparing the property for rent and potentially irrecoverable VAT incurred on these items. The Council should ensure it complies with the Code of Practice for Local Authority Accounting. 3.4. The Council can determine how it uses the £20,000 per property and can choose how much of the grant is to be spent on each individual property. 3.5. The Council or its delivery partner(s) will fund the outstanding share for each property. 3.6. The funding will be provided by DLUHC in two tranches. The ‘Tranche 1 allocation’ is 30% of the total allocation. The ‘Tranche 2 allocation’ is 70% IXQGLQJ ZLOO EH SURYLGHG E\ '/8+& LQ DOORFisD W L R QR¶I WKH WRWDO DOORFDDWWLLRRQQ¶ L7VK H of the total allocation. Both are set out in Table 1. Table 1 – Funding ±Funding allocation Tranche 1 allocation Tranche 2 allocation Total allocation Total funding fundingௗ £2,400,000 108,000 £5,600,000 252,000 £8,000,000360,000

Purpose of the Funding. 3.1. LAHF R2 funding has been provided specifically for spending on LAHF R2 priorities and the Council agrees to spend LAHF R2 funding on activity set out in this MOU as agreed by DLUHC or subsequently agreed by DLUHC as per Paragraph 4.4. 3.2. DLUHC will part fund the cost of the Council obtaining properties for use by households that meet the eligibility criteria. The Council will use its best endeavours to meet the delivery target and to achieve value for money. DLUHC’s contributory share of funding (‘the average grant rate per unit’) should not exceed the maximum described below but the grant per unit for individual properties can be higher. 3.3. The maximum average grant rate per unit (for the portfolio of all properties, not individual purchases) is calculated as 40% of the costs of acquisition or refurbishment that the council charges to its capital budget plus £20,000 per property. Eligible costs funded by the 40% and the £20,000 per property could include the purchase price, stamp duty, surveying, legal and other fees, refurbishments, energy efficiency measures, decoration, furnishings, or otherwise preparing the property for rent and potentially irrecoverable VAT incurred on these items. The Council should ensure it complies with the Code of Practice for Local Authority Accounting. 3.4. The Council can determine how it uses the £20,000 per property and can choose how much of the grant is to be spent on each individual property. 3.5. The Council or its delivery partner(s) will fund the outstanding share for each property. 3.6. The funding will be provided by DLUHC in two tranches. The ‘Tranche 1 allocation’ is 30% of the total allocation. The ‘Tranche 2 allocation’ is 70% of the total allocation. Both are set out in Table 1. Table 1 – Funding allocation Tranche 1 allocation Tranche 2 allocation Total allocation Total funding £2,400,000 456,000 £5,600,000 1,064,000 £8,000,0001,520,000

Purpose of the Funding. 3.1. LAHF R2 funding has been provided specifically for spending on LAHF R2 priorities and the Council agrees to spend LAHF R2 funding on activity set out in this MOU as agreed by DLUHC or subsequently agreed by DLUHC as per Paragraph 4.4. 3.2. DLUHC will part fund the cost of the Council obtaining properties for use by households that meet the eligibility criteria. The Council will use its best endeavours to meet the delivery target and to achieve value for money. DLUHC’s contributory share of funding (‘the average grant rate per unit’) should not exceed the maximum described below but the grant per unit for individual properties can be higher. 3.3. The maximum average grant rate per unit (for the portfolio of all properties, not individual purchases) is calculated as 40% of the costs of acquisition or refurbishment that the council charges to its capital budget plus £20,000 per property. Eligible costs funded by the 40% and the £20,000 per property could include the purchase price, stamp duty, surveying, legal and other fees, refurbishments, energy efficiency measures, decoration, furnishings, or otherwise preparing the property for rent and potentially irrecoverable VAT incurred on these items. The Council should ensure it complies with the Code of Practice for Local Authority Accounting. 3.4. The Council can determine how it uses the £20,000 per property and can choose how much of the grant is to be spent on each individual property. 3.5. The Council or its delivery partner(s) will fund the outstanding share for each property. 3.6. The funding will be provided by DLUHC in two tranches. The ‘Tranche 1 allocation’ is 30% of the total allocation. The ‘Tranche 2 allocation’ is 70% of the total allocation. Both are set out in Table 1. Table 1 – Funding allocation Tranche 1 allocation Tranche 2 allocation Total allocation Total funding £2,400,000 396,000 £5,600,000 924,000 £8,000,0001,320,000

Purpose of the Funding. 3.1. LAHF R2 funding has been provided specifically for spending on LAHF R2 priorities and the Council agrees to spend LAHF R2 funding on activity set out in this MOU as agreed by DLUHC or subsequently agreed by DLUHC as per Paragraph 4.4. 3.2. DLUHC will part fund the cost of the Council obtaining properties for use by households that meet the eligibility criteria. The Council will use its best endeavours to meet the delivery target and to achieve value for money. DLUHC’s contributory share of funding (‘the average grant rate per unit’) should not exceed the maximum described below but the grant per unit for individual properties can be higher. 3.3. The maximum average grant rate per unit (for the portfolio of all properties, not individual purchases) is calculated as 40% of the costs of acquisition or refurbishment that the council charges to its capital budget plus £20,000 per property. Eligible costs funded by the 40% and the £20,000 per property could include the purchase price, stamp duty, surveying, legal and other fees, refurbishments, energy efficiency measures, decoration, furnishings, or otherwise preparing the property for rent and potentially irrecoverable VAT incurred on these items. The Council should ensure it complies with the Code of Practice for Local Authority Accounting. 3.4. The Council can determine how it uses the £20,000 per property and can choose how much of the grant is to be spent on each individual property. 3.5. The Council or its delivery partner(s) will fund the outstanding share for each property. 3.6. The funding will be provided by DLUHC in two tranches. The ‘Tranche 1 allocation’ is 30% of the total allocation. The ‘Tranche 2 allocation’ is 70% of the total allocation. Both are set out in Table 1. Table 1 – Funding allocation Tranche 1 allocation Tranche 2 allocation Total allocation Total funding £2,400,000 355,200 £5,600,000 828,800 £8,000,0001,184,000