Building new homes in Redbridge - pot of gold at the end of the Rainbow for LBR.
In the last 5 yrs LBR have received £20,221,657 bonus to use as they see fit. |
| Rainbow over Billet Road |
For each new home constructed, the Government provides a New Homes Bonus by match funding for the Council tax liable (set as the national average council tax for the relevant band of property).
This is adjusted for the increase or
decrease in the number of empty
homes, and an additional £350 per year premium for affordable homes is applied.
There has been a year on year increase in the level of New Homes Bonus Redbridge has received due to the increase in numbers of homes built.
Not only the New Homes Bonus but there is also the CIL. Redbridge received £490,656 in the last year and have a further £10, 276 004 on the way as new builds are completed.
No wonder they are so keen to build on every blade of grass in the area!
But Redbridge have done little to get empty properties back in to use.
There were 462 empty homes in 2017 and increase of 188 from the previous year.
462 empty homes?? oh and only 71 returned to use in 2018.