Posted 15.02.17
European Investment Bank : Article link
Sovereign has signed a £150 million funding deal with the European Investment Bank (EIB) to support its plans to build 4,500 new homes over the next three years.
Sovereign, the sixth largest housing association in the country with over 56 000 homes, will be able to draw on the funding to support its 1,500 homes-a-year development programme.
The EIB, which is owned by the European Union, has provided more than £4 billion of investment in social housing and urban renewal across the UK in the last decade, more than to any other European country, mainly through The Housing Finance Corporation.
However, this is the first deal directly between the EIB and housing association in England to complete since 2014.
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Posted 14.02.17
Birmingham City Council: Article link
Birmingham City Council has approved a £183 million investment into its council housing.
Cabinet approved £168.626 million programme of investment into its stock of council properties and £14.797 million investment into other programmes, including adaptions, clearance and redevelopment costs within a total Housing Investment Capital fund budget of £358.969 million.
Alongside this, Cabinet also approved the continued 1% reduction in rent in line with the Government's new rent policy.