Central Government have announced funding for councils in 2019/20 related to homes built in each borough which means an £11.1 million payday for Greenwich Council.
This makes Greenwich the 6th highest authority in the UK for funds out of 356. It’s actually a drop of £1.1 million from last year when the authority was 4th highest and received more than the entire cities of Birmingham, Manchester, Newcastle, Sheffield, Bristol, Leeds and Liverpool.
Greenwich will still receive more than those cities. Southwark and Wiltshire have jumped above. Tower Hamlets tops the chart with income of £19.2 million (all those towers at Canary Wharf help).
The fund that provides this money is named New Homes Bonus and introduced in 2011. Greenwich Council have received £66 million since 2011/12 to 2018/19.
These funds are in addition to Section 106 and Community Infrastructure Levy income.
Greenwich’s total from the New Homes Bonus could possibly still be bumped with developments approved on appeal.