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Free event in Barbican Library - Theatrical Monologues and 3 Book Launches at Barbican Library
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Homes for City
As the City has shown time and time again by leading in the financial sector, the City of London Corporation now needs to change its policies on housing, to ensure that it is at the forefront of building new homes within its own boundaries. The City allows private developers to build new homes, why cannot they do the same within the City? Simple reason it would distort the City residential vote.
The City can start by setting up a new company, Homes for City Ltd (HfC), a private not-for-profit company. Any suitable properties, surplus to City requirements, of which there are many, can be long-leased over to HfC. The City can retain the freehold, or place the freehold in a management company for each development.
The shares of HfC will remain 100% in the ownership of the management company, or City of London Corporation, not be sold. The City - claims to be the Worlds financial hub, it and City companies can show their social side by endowing HfC with initial funding, City financiers can further help to raise additional funding at competitive rates. As and when surpluses are generated through right to buy sales, these funds can be reinvested in further projects, and refurbishments. The new HfC entity will eliminate the need to transfer funds into the City Housing Revenue Account, which at present is difficult due to central government policies.
The City housing list will soon be eliminated, key workers can be accommodated. The important factors are to ensure that secure tenancies remain, right to buy remains. This type of initiative IS supported by The Department for Communities and Local Government.
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