Impact Bond: Foyer Central SIB
Stage of development: Implementation
Policy sector: Homelessness
Social challenge: Supporting young people who are at risk of or experiencing homelessness to lead fulfilling lives and transition to independence
Intervention: Foyer Central is an integrated learning and accommodation centre that will support young people who have been in of out-of-home care on the path to independence. The Program will build their capacity to access resources and opportunities, connect with education, training and employment, and make positive decisions.
Classification notes: It supports the NSW Homelessness Strategy — to provide targeted housing options to prevent homelessness or chronic homelessness for high-risk groups.
Date outcomes contract signed: 2020-12
Date contracts between all parties signed: 2021-03
Start of service provision: 2020-03
Anticipated end of service provision: 2029-09
Anticipated completion date: 2030-12
Total investment commitment currency: USD
Total investment commitment: 7000000
Total investment commitment (USD): 7000000
Maximum potential outcome payment: 32600000 USD
Maximum potential outcome payment (USD): 32600000
Configuration of the contracting parties: Direct Structure
Target population: Young people who have left out-of-home care and are at risk of or experiencing homelessness
Targeted number of service users or beneficiaries: 272
Targeted unit type: Individual