Housing developers facing financial difficulties will be able to bid for at least £100 million of investment to get work restarted on stalled sites under the Get Britain Building Programme, the Homes and Community Agency (HCA) has revealed.
Following the announcement by the HCA, housebuilders with as few as 15 houses, which have been suspended, will have the chance to put their bid forward until 25 July 2012.
Development is underway on sites in Ashford, Kent and Bath whilst funding has been allocated to 40 schemes set to deliver more than 3,200 new homes once contracts are agreed.
Chief Executive at the HCA Pat Ritchie said: “It has been a tremendous effort from the industry and the HCA to get this programme up and running, and with more than £110 million allocated I look forward to seeing these developments progressing to build much needed housing.
“We will continue to be thorough in our due diligence, and will only support those schemes backed by the community, which boost the local economy and provide a secure and value for money investment for the taxpayer.” – added Ms Ritchie.