A council has proposed to pump an extra £100,000 into a housing charity to part-fund 20 new affordable homes for the elderly.

Waltham Forest Council has tabled proposals to increase the amount of Local Authority Social Housing Grant given to the Walthamstow & Chingford Almshouse Charity (WCAC) in order to build homes on a site in Hoe Street ward, Walthamstow.

A £2 million grant was previously awarded to WCAC in November 2015 from the £7 million pot allocated for the scheme by the council. This is now set to be raised to £2.1 million.

A total of 20 supported housing flats for older people have already been constructed on the site. Work started in 2016 and was completed in March this year.

The overall cost of the project worked out higher than initially anticipated, so the council is set to approve the extra funding to meet these unforeseen costs.

The report tabling the suggestions for the increased grant said: “The council could decide not to agree to the grant uplift request from WCAC
to part-fund the 1C The Drive scheme.

“This option would have a detrimental impact on the scheme’s finances, and place additional strain on the charity’s reserves.

“A good working relationship has been created between the council and WCAC, and it is hoped that additional affordable housing schemes may
be brought forward by WCAC in future years.”

The executive decision on the proposals will be made on Thursday July 13 at Waltham Forest town hall.

Cllr Simon Miller, cabinet member for economic growth and high streets, said: “The council has a good working relationship with the Walthamstow and Chingford Almshouse Charity (WCAC), who do fantastic work in the borough supporting those who need it most.

"When we became aware that unexpected additional costs had been incurred by WCAC after constructing 20 affordable supported housing flats for elderly people at The Drive, we decided to increase the grant to cover a proportion of these additional costs. This money has been sourced from unallocated Right to Buy receipts.

“We hope that WCAC will continue to bring forward similar affordable housing schemes in Waltham Forest, which benefit residents and their families and helps build strong, healthy communities.”