Housing Corporation provides £3.9b for 70,000 homes
The Housing Corporation has announced it will administer £3.9 billion to provide over 70,000 new homes across England in 2006-08.
The funding, the largest-ever investment programme in the corporation's 41-year history, was proposed by the nine individual Regional Housing Boards.
It will be split over a two-year period with £1.9 billion earmarked for 2006-07 with and £2 billion for 2007-08.
Housing Corporation chief executive Jon Rouse has welcomed the announcement: "In 2004, government signalled its renewed commitment to affordable housing in England by awarding us, at that time, our biggest ever grant allocation. That money is now on track to deliver 63,000 new homes.
"Today, we have seen that commitment reiterated with yet another increase in our purchasing power. This is a testament to our and our partners' success in the all-important delivery of homes on the ground. At the same time, the affordable housing sector must not rest on its laurels. At the Corporation we are committed to efficiency and an improvement in the quantity and quality of affordable housing."
On a regional level London will receive around 20,000 homes; east England 7,000; East Midlands 3,000; West Midlands 4,000; the north-east 1,750; north-west 4,000; south-east 20,000; south-west 8,000 and Yorkshire 2,500.
Councillor David Sparks, head of the Local Government Association's environment board, said: "The LGA welcomes the announcement of greater resources to provide accommodation for those in need. Addressing housing need and demands are key objectives for any council and they will welcome increased resources enabling this to be achieved.
"The housing market is such that it is becoming increasingly important for councils to deliver affordable housing for which the role of Regional Housing Boards is essential in determining housing priorities and in distributing this high level of grant aid."
The funding, the largest-ever investment programme in the corporation's 41-year history, was proposed by the nine individual Regional Housing Boards.
It will be split over a two-year period with £1.9 billion earmarked for 2006-07 with and £2 billion for 2007-08.
Housing Corporation chief executive Jon Rouse has welcomed the announcement: "In 2004, government signalled its renewed commitment to affordable housing in England by awarding us, at that time, our biggest ever grant allocation. That money is now on track to deliver 63,000 new homes.
"Today, we have seen that commitment reiterated with yet another increase in our purchasing power. This is a testament to our and our partners' success in the all-important delivery of homes on the ground. At the same time, the affordable housing sector must not rest on its laurels. At the Corporation we are committed to efficiency and an improvement in the quantity and quality of affordable housing."
On a regional level London will receive around 20,000 homes; east England 7,000; East Midlands 3,000; West Midlands 4,000; the north-east 1,750; north-west 4,000; south-east 20,000; south-west 8,000 and Yorkshire 2,500.
Councillor David Sparks, head of the Local Government Association's environment board, said: "The LGA welcomes the announcement of greater resources to provide accommodation for those in need. Addressing housing need and demands are key objectives for any council and they will welcome increased resources enabling this to be achieved.
"The housing market is such that it is becoming increasingly important for councils to deliver affordable housing for which the role of Regional Housing Boards is essential in determining housing priorities and in distributing this high level of grant aid."
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