Just before Christmas, the Government announced the allocation of the New Homes Bonus for 2014-15.
The New Homes Bonus is a grant paid by central government to local councils as a reward for delivering additional homes. They calculate this based on the extra council tax revenue collected from additional homes and those brought back into use (with a premium for affordable homes).
Croydon received a total of £8,312,259, the 12th highest in the country.
This is a welcome recognition of the effort that my Conservative colleagues at the Town Hall have put into building more homes to tackle the housing crisis we face.
The good news is that the extra funding can be spent by the Council on whatever they choose, including front-line services and keeping council tax low.
Full details can be found online.