Bradford Council has rubber-stamped a plan to spend a £23 million tax-back pot earned by Incommunities’ on jobs, homes and regeneration projects.
Under a decade-old agreement, whenever the social housing group spent money bringing its properties up to the national Decent Homes standard, it could claim the VAT back from the taxman with the Council having a say in how about half of the money was spent.
Now its £300m improvement project is complete, more than £40m has been won back from the taxman and the Council has approved a draft six-year £22.9m spending plan, with the details delegated to a steering group.
This includes £2.7m to be spent on regeneration in Holme Wood, nearly £11m on building affordable homes and nearly £5m on an extra-care scheme in Saltaire.
It would also set aside £3m to keep the Get Bradford Working job scheme going until 2020.