FAMILY MOSAIC

Promoter – Financial Intermediary

FAMILY MOSAIC HOUSING

Location

• United Kingdom

Description

Financing the construction and eligible refurbishment of energy-efficient social housing estates in London and Essex

Objectives

The project will concern the financing of investments in the social and affordable housing stock of Family Mosaic, a large not-for-profit registered provider of social housing in England, managing some 24,000 units in London and Essex, in the years 2015-2019. EIB funding will concern eligible refurbishment and new construction of social and affordable housing and associated infrastructure facilities.

Comments

Sector(s)

• Urban development - Construction

Proposed EIB finance (Approximate amount)

GBP 130 million (EUR 174 million)

Total cost (Approximate amount)

GBP 300 million (EUR 402 million)

Environmental aspects

Compliance with the relevant EU directives will be verified during appraisal: Environmental Impact Assessment (EIA) Directive (2011/92/EU), Strategic Environmental Assessment (SEA) Directive (2001/42/EC), Habitats Directive (92/43/EEC) and Birds Directive (2009/147/EC). The status of any environmental studies and public consultations related to the urban renewal, upgrading and construction investments will be reviewed during project appraisal. Energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings (2010/31/EU) will also be further assessed during project appraisal.

Procurement

The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2004/18/EC and/or 2004/17/EC as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Status

Signed - 9/08/2019