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Detail of outcome
Following the consultation the revised determination makes it possible for all registered providers to recycle capital grant from 1 April 2015 and to receive grant funded stock without this being a trigger for recycling on the part of the transferring registered provider.
The consultation responses document summarises the feedback to each of the seven questions posed in the consultation and sets out the agency’s response to each in turn.
The calculations for uplift amount guidance provides a set of calculations for determining the recycling of grant plus uplift amount to be used by profit making providers when recycling or repaying capital grant.
The principles governing grant recovery and recycling are set out in The Recovery of Capital Grants and Recycled Capital Grant Fund General Determination 2012.
Under the current determination only registered providers who were formerly registered social landlords are able to transfer and receive grant funded stock and recycle historical grant.
This consultation sets out the government’s intention to change the grant recovery requirements for registered providers.