New guidance for local authorities and developers on delivering affordable homes has been made available by the Homes and Communities Agency (HCA).

The body's Economic Appraisal Tool (EAT) allows local authorities to create realistic affordable housing targets in order to meet their requirements, based on a calculation of residual land value.

Currently the HCA is encouraging bids for grant funding to be accompanied by an EAT submission in order to determine grant levels and demonstrate the value that a social housing grant would bring to an area.

Richard Hill, director of investment and renewal at the HCA, said the planning tool will help the housing market and the delivery of affordable homes.

"Every partner needs to know what the other can bring to a development opportunity, and crucially, what they intend to take away," he commented.

"Our EAT will help in that transparent process."

The HCA Academy is currently recruiting for the autumn intake of its free introductory course for place-making, which teaches people in the industry how to create and manage sustainable communities.
Source: 14/08/09