Council shortlisted for major housing award

WARRINGTON Borough Council has been shortlisted for a major award by the housing industry’s premier publication.
“Inside Housing” has named the authority in the “Innovative finance development of the year” category of its Top 60 Development Awards.
The council has been shortlisted for its innovative loans scheme, which, since 2009, has provided £275m to 10 housing associations, helping them build around 2,500 affordable new homes across the borough.
The latest of these loan deals was signed with Equity Housing last month.
Last year, Warrington also became the first local authority outside London in a generation to issue a city bond, unlocking around £100m to fund its capital spending programme.
Cllr Russ Bowden (pictured), the council’s lead member for corporate finance said: “Warrington needs affordable homes, but since the banking crisis of 2007 housing associations have been struggling to access the loans to pay for them. The country is facing a major housing shortage and this schemes provides an option to mitigate some  of that.
“Since then we’ve worked hard to establish long term loan facilities to help our housing association partners to build homes for people who need them most. While the financial sector is focused largely on financial returns, the key driver for us is affordable housing and jobs for local people and partnership working. We also earn income from the loan repayments and arrangement fees. It’s a win-win for Warrington people and we are delighted to be shortlisted for this award.”