Local authorities will be able to apply for a maximum £10m in government funding to revive housing projects that have stalled, in an attempt to get developments up and running quickly.
The Dept of Communities and Local Government (DCLG) is now accepting bids under the Housing Infrastructure Fund (HIF), a £2.3bn fund to help councils unlock land for housing developments. This was first announced in November 2016, in the governments first Autumn statement/Comprehensive Spending Review. There is now more information on how to access this money.
Applications for “marginal viability funding”, which is capped at £10m, can be used to get schemes that may have already secured planning permission but have run into unforeseen costs, such as abnormal site remediation.