{"id":51337,"date":"2014-12-09T13:14:55","date_gmt":"2014-12-09T13:14:55","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=8dcc247bd886cce71faa2dd672f2af9e"},"modified":"2014-12-09T13:14:55","modified_gmt":"2014-12-09T13:14:55","slug":"press-release-23-million-to-help-homeless-turn-around-their-lives","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=51337","title":{"rendered":"Press release: \u00a323 million to help homeless turn around their lives"},"content":{"rendered":"
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1600 of the most vulnerable homeless young people in the country will be helped to get their lives back on track with the \u00a315 million Fair Chance Fund<\/a>, while the \u00a38 million Help for Single Homeless Fund<\/a> will support around 22,000 single homeless people.<\/p>\n

The new Fair Chance Fund, announced at today\u2019s (9 December 2014) Youth Homelessness Parliament, will pay for sustained housing, employment and educational support for homeless 18 to 24 year olds with investors putting in money now on a long-term payment by results basis. <\/p>\n

Young people with the greatest needs, which other services may already have failed, will be helped by charities to find accommodation, gain qualifications and move into work using investment from innovative new social impact bonds.<\/p>\n

Homelessness Minster Kris Hopkins said:<\/p>\n

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This government is determined to get effective support to the most vulnerable in society, especially young people who may have fallen into homelessness due to any number of problems. A joined up approach that works for them cannot only be about providing accommodation. To properly turn around their lives we also need to deal with all of their problems and find ways to get them the skills they need to get back into work and look after themselves for the long term.<\/p>\n<\/blockquote>\n

Civil Society Minister Rob Wilson said: <\/p>\n

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I am really pleased to be backing the Fair Chance Fund. It is a great example of how innovative social investment has the potential to achieve great things for people whom traditional funding cannot reach. This will give voluntary sector organisations the freedom to do what\u2019s needed, when it\u2019s needed.<\/p>\n<\/blockquote>\n

Communities Minister Stephen Williams said: <\/p>\n

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This is a great example of how this government is finding new ways to do work that has never been done before for a really hard to help group of people. I look forward to seeing the results and building on this pioneering work in the future.<\/p>\n<\/blockquote>\n

It is expected that the scheme will create significant long-term savings for taxpayers because of its impact in reducing crime, poor health and long term benefit dependency amongst the target group. Local authorities will be responsible for referrals to the Fair Chance Fund schemes, ensuring that young people with the greatest need are prioritised.<\/p>\n

Each of the bids is funded through a social impact bond, where the cost of services is paid for by social investors, who stand to lose their money if positive outcomes are not achieved. The UK is the world leader in this type of investment, which aims to improve delivery of innovative solutions to complex social problems and transfer risk from both the tax payer and the voluntary sector organisations who will be working with the young people. <\/p>\n

The Single Homeless Fund<\/a> is about better help for individuals with complex needs. It\u2019s not just about housing \u2013 it\u2019s about a more integrated approach with better collaboration between agencies. <\/p>\n

\u00a38 million has been made available to support around 22,000 people of whom 6,000 will be newly homeless. Over 12,000 of them will be people with 1 or more support needs and around 3,500 will be people with multiple support needs and a history of rough sleeping.<\/p>\n

Announcing the 34 winning bids, Homelessness Minister Kris Hopkins said:<\/p>\n

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This is a vital initiative which will help individuals who are some of the hardest to reach, and who often have complex needs, not just simply a roof over their head.<\/p>\n

These projects will offer precisely the sort of support that many single homeless people need to help turn their lives around and give them a long term solution that supports their needs.<\/p>\n<\/blockquote>\n

Further information<\/h2>\n

Fair Chance Fund<\/h3>\n

Seven projects have today been awarded a share of up to \u00a315 million Fair Chance Funding over 3 years from January 2015.<\/p>\n

Up to 7 new Social Impact Bonds to help turn around the lives of the most vulnerable young homeless people.<\/p>\n

Funding comprises \u00a310 million from Department for Communities and Local Government and \u00a35 million from the Cabinet Office Social Outcomes Fund<\/a>. <\/p>\n

The winning Fair Chance Fund bids are led by:<\/p>\n