The Officer Executive Decisions committee is scheduled to consider a report on the award of grant funding from the Greater London Authority's (GLA) London Social and Affordable Homes Programme (LSAHP) 2026-36. This report outlines the potential allocation of significant capital grant funding to support the delivery of new social and affordable homes within the borough.

Award of Grant Funding from the Greater London Authority's London Social and Affordable Homes Programme

A key item scheduled for discussion is the potential award of grant funding from the Greater London Authority's (GLA) London Social and Affordable Homes Programme (LSAHP) 2026-36. This programme is a significant 10-year initiative aimed at funding new affordable homes across London, with Hackney Council having submitted bids for funding. The report details a conditional funding offer from the GLA totalling £22.7 million in capital grant funding, intended for the delivery of 102 new social and affordable homes across four regeneration projects.

The report highlights Hackney's acute housing crisis, with over 8,500 households on the housing register, including more than 3,500 homeless households in temporary accommodation. The Council has committed to addressing this through various housing development and acquisition programmes. Grant funding from the GLA is described as critical to the financial viability and deliverability of new affordable homes.

The report outlines a proposed decision to agree to the terms of the GLA's funding offer and for the Director of Legal, Democratic and Electoral Services to prepare and enter into the associated funding agreement(s). The report explains that this funding is essential to subsidise the delivery of social rent and other affordable homes, which often do not cover their costs within the Council's standard investment period. The LSAHP 2026-36 is identified as the primary source of grant subsidy for affordable housing in London over the next decade.

Alternative options considered include accepting only the fully funded component of the offer and declining the part-funded elements, declining the funding offer in full to prepare for future bids through the Continuous Market Engagement (CME) process, or doing nothing. The report argues that accepting the funding is crucial to avoid considerable delays and additional costs, and that equivalent alternative external funding sources have not been identified.

The report also references several policy documents, including the Hackney Community Strategy 2018-2028, the Borough-wide Hackney Local Plan 2033 (LP33), the Economic Development Plan 2025-35, and the Housing Strategy Position Statement for 2024-2025. It notes that projects funded by the LSAHP will build on the Council's strong track record of resident engagement and involvement.

The report includes comments from the Executive Director of Finance and Corporate Resources, Rickardo Hyatt, and the Director of Legal, Democratic and Electoral Services, Patrick Rodger. It also lists appendices containing the GLA's outcome and funding offer letter, and details of the allocation offer, which are exempt from public disclosure due to containing information relating to financial or business affairs. The report is authorised by Rickardo Hyatt, Executive Director - Housing, Climate and Economy.