Brent’s pioneering approach to the housing crisis wins MJ Award
27 June 2019
Brent Council was recognised for its innovative response to the housing crisis last night, winning the MJ Award Category for Innovation in Finance for i4B.
In December 2016, Brent established its wholly-owned local authority trading company called i4B to provide good quality, affordable private rented sector accommodation to Brent residents. So far, i4B has rehoused 205 families and saved the Council £600,000.
BBC Breakfast News presenter, Steph McGovern, announced Brent as the winner for Innovation in Finance at a gala night dinner for the local government achievement awards at London's Hilton Hotel in Park Lane on 26 June.
Cllr Muhammed Butt, the Leader of Brent Council, said: "We're delighted to be recognised for our creative approach that we've taken to ensuring families have access to good quality, affordable homes. Housing is the biggest challenge London faces, as we try to balance supply and demand, in a climate of government cuts."
i4B Holdings Limited has acquired a large portfolio of good quality, private rental accommodation, and by April 2023 it's expected to be managing 778 properties at affordable rent prices. Over 90 percent of the families who have moved into i4B homes have been rehoused from temporary B&B accommodation.