5 Scheme Adminstration

5.1 General

5.1.1 For general Requirements see Programme Management sub section 4.4 
Where RSLs fail to deliver within the agreed cost limits, to the agreed timetable or there is insufficient demand from priority key workers, the Agency may transfer the allocation to another RSL. The Agency reserves the right to amend or transfer an allocation at any point before the final Grant claim has been paid.

 
5.2 Grant Payments

5.2.1 See Finance section 3  for most Requirements. However, additional  KWL-specific issues are noted in this section.

5.2.1 Open Market HomeBuy:

The total amount of Grant payable to the Equity Loan Provider will be the Grant to the key worker plus the agreed administrative fee. The Agency must agree changes in the allocation of funding between financial years. Grant will not be paid until a key worker completes the purchase of a property acquired through Open Market HomeBuy.

5.2.2 New Build HomeBuy and Intermediate Rent:

Grant payment is in two tranches, start on site (60%) and final cost (40%).