Housing Corporation: Financial Management of Housing Association
Housing associations are now the major providers of new social housing. The Housing Corporation regulate the operations of some 2,300 registered associations in England, of which some 600 currently receive grants from public funds for capital developments (known as housing association grant). Since April 1989 associations have been required to augment their grants by borrowing from the private sector, for which they carry the financial risk. In 1992-93 the associations received grants of some E2.4 billion for capital developments under the Corporation’s approved development programme. Total investment from the private sector to support this injection of public funds is calculated at some 0 billion.