The government have announced allocation of £866 million funding
from the £5 million Housing Infrastructure Fund for 133
projects.
The Housing Infrastructure Fund is a government capital grant
programme to help unlock new homes in areas with the greatest
housing demand. Funding is awarded to local authorities on a
competitive basis.
The fund is divided into 2 streams:
- A Marginal Viability Fund - available to all single and lower
tier local authorities in England - to provide a piece of
infrastructure funding to get additional sites allocated or
existing sites unblocked quickly. Bids can be up to £10
million.
- A Forward Fund - available to the uppermost tier of local
authorities in England - for a small number of strategic and
high-impact infrastructure projects. Bids can be up to £250
million.
Housing Secretary Sajid Javid says that up to 200,000 new homes
are set to get off the ground as the government confirmed £866
million investment in local housing projects across the country to
support local work that will make housing developments viable and
get much-needed homes built quicker.
The money will fund key local infrastructure projects including
new roads, cycle paths, flood defences and land remediation work to
help open up sites ahead of building the homes.
The government together with Homes England assessed each bid for
their strategic ambition, benefits costs ratio and their
deliverability and will now work with the local authorities over
the coming months to progress schemes through detailed funding
clarification.
Read the full announcement and see details of
successful bids.