The Loan to acquire Move-on Accommodation
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The Loan to Acquire Move-on Accommodation (LAMA), aims to fund the purchase of properties by homelessness charities as a route into housing for those who cannot access permanent social housing or private rented accommodation.
A £10m fund running for five years will be made available to Homelessness charities in Northern Ireland, projected to provide 80 – 100 units off supported accommodation for clients with a range of support needs who would benefit from a move away from the traditional Staircase Model approach to homelessness.
Individual applications for the LAMA require bespoke business cases to be submitted which will contain detailed projected cashflows, demonstration of ability to manage quality tenancies, a proven history of property management, detailed risk analysis including risk registers specific to each scheme, and best value for money to the public purse.