London Borough of Bexley, GB Homelessness Social Impact Bond to improve permanent housing transition
London Borough of Bexley, GB Homelessness Social Impact Bond
The borough has 350 single homeless residents who spend an average of 2.5 years in temporary shelters. Revenues from Opening Doors SIB purchases are used to transition single homeless residents to long-term rental units. Borough officials use the infusion of bond funds to shift costs from temporary housing to health, education, and employment services. Investors in this five-year pilot earn interest from socially responsible bonds.
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London Borough of Bexley Council - Opening doors | Local Government Association
This case study details the journey that London Borough of Bexley Council has been on in the design and tender launch of a new homelessness social impact bond (SIB) service. The technical support that we commissioned using the Housing Adviser Programme grant funding has been integral to this journey and offered the SIB expertise for devising the service outcomes, developing the operational model and advising on procurement. The £1.6 million SIB contract was awarded in September.
4995 - Bexley's Single Homeless Social Impact Bond | Delta
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