Accelerated construction details revealed
The DCLG has released more details on its £1.7bn accelerated construction fund for surplus public land, and confirmed it will guarantee home sales in some schemes.
In documentation released inviting local authorities to express interest in the funding, the DCLG says that central government is already looking at development partnerships for sites.
Partnerships will allow sites that are not otherwise viable to be brought forward. They will also allow conditions around tenure, faster building and the stipulated use of modern methods of construction.
The DCLG has released more details on its £1.7bn accelerated construction fund for surplus public land, and confirmed it will guarantee home sales in some schemes.
In documentation released inviting local authorities to express interest in the funding, the DCLG says that central government is already looking at development partnerships for sites.
Partnerships will allow sites that are not otherwise viable to be brought forward. They will also allow conditions around tenure, faster building and the stipulated use of modern methods of construction.
The DCLG said the model could result in higher returns than those provided by the traditional disposal process.
In an example of how schemes could work, it said it a potential site could be identified from its public land program, with the government obtaining outline planning permission and then selecting a development partner. That partner would obtain full planning and build out the site, with the pair sharing in the profits.
The DCLG said that “in some cases we may offer to reduce our development partner’s risk with indemnities in the event that homes constructed cannot be sold.”
Eligible sites are those that might not otherwise be viable for housing, meet local housing needs and have a capacity for over 50 homes.
The DCLG said various funding streams were being made available, including the home building fund, the housing infrastructure fund and the starter homes land fund. Control of the funding was to come from the HCA, which would carry out the work, offer support and broker conversations with adjoining authorities.
The full documentation can be found here.
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