Impact Bond: Entrenched Rough Sleeping Social Impact Bond- Greater Manchester
Stage of development: Complete
Policy sector: Homelessness
Intervention: A programme to assist the most entrenched rough sleepers with secure accommodation and ongoing targeted support, using a housing first approach. It aims to provide the wrap-around support needed to enable individuals to sustain a tenancy in one of 270 homes to be made available by 15 Greater Manchester housing providers and two private rented sector partners – with charities Shelter, Great Places and The Brick ensuring individuals receive the intensive emotional and practical support they need to access appropriate health, training and employment services. The focus is on an individual’s assets and strengths, using a personalised fund to realise their individual ambitions and aspirations. The partnership invests in a second, third, fourth chance ethos, so it doesn’t matter how many times it takes for a participant to stabilise and move forward.
Start of service provision: 2017-12
Anticipated end of service provision: 2020-12
Actual end of service provision: 2021-03
Dates notes: The project was meant to be a 3-year project from 2017 - 2020. The outcomes reported were verified March 2021
Total investment commitment currency: GBP
Total investment commitment: 1800000
Total investment commitment (USD): 2316671.84
Maximum potential outcome payment: 2629000 GBP
Maximum potential outcome payment (USD): 3383627.926
Target population: ‘Entrenched rough sleepers’ – people who have regularly slept rough over the past two years and/or are well known to homelessness services
Targeted number of service users or beneficiaries: 300
Targeted unit type: Individual
Actual number of service users or beneficiaries engaged: 406
Actual unit type: Individual