Housing Associations must state the dates on the grant application, on which they propose to meet the key deadlines for NIHE to release the grant.
Bank Account Details - An Association that receives Project Approval from the NIHE (DPG) for the first time must provide details of the bank account to which it wishes advances of grant to be made. Without this information, it will not be possible to make advances. The Association must provide the following information in a letter signed by the Secretary and two Committee Members:
- Bank Name;
- Bank Branch;
- Bank Sorting Code;
- Bank Account Number; and
- Bank Account Name.
The letter together with a copy of the bank mandate authorising the opening of the account must be sent to the NIHE (DPG).
Changes to Association’s Bank Account Details - If an Association changes any of the aspects of its bank account then the NIHE (DPG) must be informed immediately. The Association in notifying the NIHE (DPG) of such changes must follow the same procedure above.
Trigger Events for Claims - Associations are eligible to claim grant following three key events:
- (i) Acquisition – this is deemed to be where the Association has a contract with the vendor to take ownership of the site/ property;
- (ii) Start on Site this is deemed to be the date when the contractor took possession of the site/property in accordance with the signed building contract;
- (iii) Practical Completion – this is deemed the contract date when the Association took possession of the dwelling(s) or when purchase completion takes place in, e.g., Off-the-shelf schemes.
Payment Timetable - The Association is required to confirm the date of these events on the Grant Application Form (Form GA1) and is required to make its claim within 60 days following each key event.
Any proposed deviation from this can only be with the prior agreement of NIHE (DPG). NIHE (DPG) will aim to make payment 10 working days of receipt of a complete and valid claim.
Payments - Advances of grant will be made directly to the Association’s bank account. The Association will receive a notification of the amount of grant paid.