Welsh Government Land and Buildings Development Fund

If you are using this scheme to provide awards of subsidy, you must inform the Subsidy Control Unit – email: scu@gov.wales

Wales

Welsh Government Land and Buildings Development Fund

The relevant statutory powers are as follows:

• Section 18(1) of the Housing Act1996 (“the Act”) provides Welsh Ministers with the powers to give grants to Registered Social Landlords in Wales in respect of expenditure incurred or to be incurred by them in connection with their housing activities.
• Section 126 of the Housing Grants, Construction and Regeneration Act 1996 (financial assistance for regeneration and development) provides that the Welsh Ministers may give financial assistance to any person in respect of expenditure incurred in connection with activities which contribute to the regeneration or development of an area.
• Section 60 of the Government of Wales Act 2006 (“GOWA”) allows the Welsh Ministers to do anything they consider appropriate to achieve the promotion or improvement of the economic, social and environmental well-being of Wales and section 58A of the Government of Wales Act 2006, which provides the Welsh Ministers may do anything which is ancillary to the exercise of any of their other functions.

Assist in the development of social and affordable homes.

Welsh Government

Local authorities, registered social landlords, community land trusts, housing trusts and charities.

Real estate activities

18 October 2024 to 31 March 2030.

£50,000,000

All subsidy awarded under the scheme will be awarded by way of grants.

This scheme is intended to assist in the development of social and affordable homes. This intervention is a direct response to the Welsh Government's Programme for Government during this government term to make our cities, towns and villages even better places in which to live and work - build 20,000 new low carbon social homes for rent.

It is open to local authorities, RSL's, community land trusts. The Land and Buildings Development Fund (LBDF) complements the ambitions of other interventions delivered across Welsh Government and wider public sector with the aim of unlocking the potential for developing land and buildings for public good, particularly to meet the demands for social and affordable housing. The scheme is open to local authorities, registered social landlords, other third sector organisations and bodies who’s roots are embedded in social value i.e. not for profit trusts and charities. This list is not exhaustive. LBDF concentrates on freeing up land and buildings where development has stalled or where there is a need to intervene to get a project off the ground. It is intended to enable applicants to overcome barriers to development i.e. bridge the “viability gap” and advance change. It can also be used to purchase strategic land parcels or buildings where their use will be to advance affordable homes. Funding to be claimed in arrears of spend.

The basis for the calculation of subsidies under the scheme is the Viability Gap.

£5000000