Purpose

On 7 September 2022, Cabinet approved an Implementation Strategy to update the structure of Camden Living Ltd (CLL) and create a Camden Living group of companies including a new company, Camden Living (Social Offer) SC/2022/48, now known as Camden Living Housing Association Ltd (CLHA). The objective is to speed up delivery of new homes for social rent and continue to provide a range of affordable housing opportunities for Camden residents.
 

CLHA became a Register Provider (RP) of Social Housing in February 2025 and purchased 34 social rent homes from the Council in April 2025.

This report presents proposals for approval under delegated authority for the Council to provide financing to CLHA via a Loan Facility to purchase a further 10 new homes for social rent constructed by Camden’s Community Investment Programme (CIP).
 

On 9 December 2025, the Council’s Executive Director Investment Place and Opportunity decided via a Non-Key Executive Decision to dispose of 10 social rent homes at Godwin and Crowndale to CLHA.

This report is coming to the Director of Finance acting as the Section 151 (S151) officer who under the Constitution has the authority to approve all loans to Housing Associations/Registered Social Landlords and enforce charges in connection with any debt owed to the Council.

Decision

THAT the Director of Finance, acting in their corporate capacity as the Section 151 Officer, and having due regard to the obligations in section 149 of the Equality Act 2010:
 

a)     Agrees to the Council entering into a Loan Facility Funding Agreement, a Lease Plan and a Debenture with Camden Living Housing Association Ltd (CLHA) attached in the 3 Part II appendices and summarised in section 2. This will enable CLHA to purchase the 10 homes at the Godwin & Crowndale Estate and to let such homes solely for the purposes of social rent affordable housing.

b)     Note that loan terms in the Loan Facility Funding Agreement are considered to be on commercial terms and hence not representing a subsidy and are considered to be in compliance with Schedule 1 of the Subsidy Control Act 2022 as set out in section 4.

c)     Note that future requests from CLHA for the release of the ring fenced £0.8M revenue grant support for CLHA will be the subject of separate formal requests for release from CLHA to the Director of Finance.