I would like to ask if any Local Authorities operate reserve funds for payment of major works?  If so, how is it managed and how is it collected?

We have a regen project that is mostly demolition and new build.   I have been informed that a condition of funding from the GLA is the operation of sink/reserve funds.  The first block is due for handover in October.

I realise that this may be a can of worms but all advice would be most welcome.