Real Lettings Property Fund 2

Questions to the Mayor of London – answered on 18th September 2020.

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Photo of Susan Hall Susan Hall Conservative

What is the total funding pot for this scheme, following the original £60m announced in February 2018? How much of this fund has been spent to date? How much money remains in the fund? Has any of this funding been reallocated to other projects, and if so how much? How many homes have been provided by this scheme, how many people have been helped?

Photo of Sadiq Khan Sadiq Khan Mayor of London

The total funding pot for the Real Lettings Property Fund 2 (RLPF2) is at £98.51m (as of 10/09/20). Current spend of the RLPF2 is at £97,837,278 (as of 10/09/20), with final committed funds to reach the total funding pot of £98.51m. The committed total is not yet finalised due to the last few properties undergoing refurbishment works. Resonance have drawn down £19.6m from the Innovation Fund and the Move-On Fund. The funding has not be reallocated to other projects. Resonance and St Mungo’s have confirmed that 327 properties have handed over, with 362 tenancies on the scheme, housing a total of 805 adults and children. There is one 2-bed property completed and ready for inspection, and a further four properties in refurbishment (one 2-bed and one 3-bed). The intention is that these will be completed within 8 weeks and achieve a total of 332 properties in total.