Around 60,000 young adults aged 18-24 in England experience homelessness each year. Many of these have complex needs and a large number are also classed as NEET (Not in Education, Employment or Training). This group sometimes falls through the net and receives little support because of the complex and interlinking problems they are experiencing – they are essentially too hard to help - and many go on to increasing involvement in crime, rough sleeping, substance misuse and long term benefit dependency.
To address this, Local Solutions will be delivering an intensive mentoring service and tenancy support to all eligible young people in Liverpool and Knowsley.
As this investment is a Social Impact Bond, payments are made on the basis of social outcomes by the Cabinet Office and Department for Communities and Local Government’s £15 million Fair Chance Fund. These will include entering and sustaining accommodation, education, volunteering and employment. Local Solutions will be tracking the outcomes of the young people and reporting these outcomes back to the programme board on a monthly basis.
The social investment will enable Local Solutions to enter a pay-by results contract with the Fair Chance Fund. Through this contract Local Solutions will launch a new initiative called AIMS (accommodation, intense mentoring and skills). The investment will be repaid only if successful social outcomes are achieved.
The investment supported a regionally based charity to deliver services and performance manage the programme through the Social Impact Bond. It further tests the use of a Social Impact Bond model to support young homeless people to improve their life chances
- Big Society Capital investment of £100,000
- Outcome payer: Cabinet Office and Department for Communities and Local Government’s £15 million Fair Chance Fund