External funding
In the wider context of reducing government funding across all public sectors, we ensure we consider a range of financial
opportunities.
On 23rd June, the UK voted to leave the European Union and Registered Providers are considering what the implications might
be. At the time of writing, there is little information or clarity about what will happen next however it is expected that in the short
term at least, the status quo will prevail. Although the markets are showing some volatility, exit from the European Union will take
at least two years and for now the rules and frameworks affecting the housing sector remain the same.
The Group will work with the sector including the NHF and PlaceShapers to make the case to government for certainty on key
issues affecting housing. The prudent approach to financial planning stands the Group in good stead and the unknown will
be assessed and evaluated and managed as it becomes known. Potential external impacts such as changes to interest rates,
inflation and cost of housebuilding have already been reflected in the Risk Register and stress-testing work and built into the
Financial Plan.
We have an excellent track-record in accessing European funding and we continue to work closely with partners to develop
successful winning bids where these can help support our services. We have engaged with a European partnership of housing
providers to enhance our bidding and will continue to look at opportunities as the Group and also with our Matrix Housing
partners. We continue to look at suitable opportunities, for example Big Lottery bidding and as well as these large funding
streams, we also look out for smaller grant opportunities where they can provide additional resources to our projects, services
and research.
Using our expertise and knowledge around accessing funding, we shall continue to bid for grants to support our objectives around
tackling child poverty. The Holiday Kitchen scheme for example will be rolled out to over 5,000 people across the Midlands and
beyond with corporate support from private sector businesses. We will also build on successes like the Pay Ahead Stay Ahead
project, educating young tenants about their home and finances, using Big Lottery funding to create wider impact.
Other services that we continue to support include a Job Club, Time For Real volunteer timebank, drop in advice sessions
signposting customers to a wide range of non-housing services. These advice and information services provide all levels of
support from pre-employment training to nudge techniques to develop self-confidence and life skills.
We provide investment and resource into several non-housing and care projects, for example Old Tree Nursery. We shall
continue to do this where projects can demonstrate viability and we shall support in the short-term and enable such
schemes to ‘float free’ as commercially viable social businesses.
We shall also continue to work closely with local authorities, Local Enterprise Partnerships and Chambers of Commerce
on wider multi-sector involvement and influence on the West Midlands devolution programme, influencing and lobbying to
ensure that affordable housing remains a key priority. We also aim to be part of future housing funding programmes which
may be devolved to the West Midlands Combined Authority.
8
Accord Group