Posted 22.07.14
A total of 160 housing providers across England are set to benefit from £886 million of affordable homes funding, according to initial allocations published by the Homes and Communities Agency (HCA).
A total of 43,821 new affordable homes will be delivered across 2,697 schemes, making a significant initial contribution to the Government's ambition for 165,000 new affordable homes by March 2018, while supporting overall housing supply and local economic growth.
The initial allocations have been made under the HCA's 2015-18 Affordable Homes Programme, following a competitive bidding process for £1.7 billion of funding. They are the result of rigorous assessment, based on fit with local priorities, value for money and deliverability.
Allocations have been discussed with the relevant local council to align investment with local priorities for their area.
The funding announced comprises just over half of the total £1.7 billion of funding available. The remaining funding will be made available for providers to bid into the HCA in due course via Continuous Market Engagement (CME), as planned, in order to allow housing providers further opportunities to work up firm schemes for future delivery during the 2015-18 period. This will include specialist, supported or rural housing, which can often require a longer lead time.
Posted 08.07.14
Housing Minister Kris Hopkins has confirmed that 15 councils will be able to borrow £60 million additional funds over the next 2 years to build over 1,000 homes in their area.
He also launched a second round of bidding to ensure councils make full use of this opportunity - especially as authorities across the country have asked for more borrowing powers and up to £300 million in borrowing has been made available.
The Housing Minister:
"Councils asked for extra borrowing powers - and we have delivered. Today, 15 authorities from across the country will get a share of £60 million of borrowing to deliver over 1,000 affordable homes.
"There's £300 million extra borrowing up for grabs for the next 2 years. So today, I'm launching a second round of bidding so more councils can make the most of this opportunity."
The 15 councils that have successfully applied for borrowing include - (in brackets are the borrowing allocations and affordable new homes that this will support):
