National Housing Trust Initiative Phase 2B — The City of Edinburgh Council.

Descriptions

The National Housing Trust Initiative will, by way of multiple contract notices, procure completed homes for affordable, intermediate rents in several local authority areas accross Scotland. The Scottish Futures Trust (SFT) is acting as a central purchasing body for the participating local authorities in Scotland. There is a seperate contract notice for each local authority area. It is intended that the SFT and the relevant area local authority will enter into a contract with each of the developers which are successful in the relevant contract notice (see Annexe B for further information). The completed units which meet the authority's requirements will be purchased by an LLP created by SFT, the local authority and the developer. In each case property managment and maintenance services will be delivered to the tenants by the developer or nominated and approved sub-contractor. Each developer will deliver these services in respect of their own completed units for a 5 - 10 year period. By no later than 10 years after purchase by the LLP, the units are to be sold by the LLP and the proceeds applied as agreed between the parties.