Press Release

4th April 2017

Funding Confirmed for Welborne Garden Village

Fareham Borough Council has been awarded over £228k in 'capacity funding' that can be used to progress work to bring the Welborne Garden Village proposal forward.  The detail of the funding award was confirmed in a letter to the Council from the Homes and Communities Agency (HCA).

The capacity funding is just one of a number of funding streams available to support the Government's garden village initiative.  These are on top of those already put in place to help bring forward new homes and supporting infrastructure. 

Leader of Fareham Borough Council, Cllr Seán Woodward said: 'The funding received can be used to progress the Council's Welborne Delivery Strategy to help bring forward the garden village proposal, and this is something we are very much focused on so we can provide much needed homes and jobs for our residents and their families.  Additionally, going forward, 'Garden Village' status gives us priority access to a wide range of funding streams designed to help support the delivery of new homes and supporting infrastructure, and hence expedite the delivery of Welborne."

Earlier this year Fareham Borough Council was confirmed as one of 30 local authorities selected to work with the Homes and Communities Agency to deliver new starter homes which will be built exclusively for first-time buyers aged 23-40 and available for at least 20 per cent below market value.

ENDS

Editor's notes

Home Building Fund (loan finance)

• Financing is available to support projects which could include community led housing projects, serviced plots for custom and self-builders, off-site manufacturing, new entrants to the market and groups of small firms working in consortia to deliver larger sites.

A range of types of funding is available as follows:

• Development Finance Loan funding to meet the development costs of building homes for sale or rent. Term up to 5 years.
• Infrastructure Finance Loan funding for site preparation and the infrastructure needed to enable housing to progress and to prepare land for development. Term up to 20 years.
• A range of non-financial support is also available for larger infrastructure schemes to help overcome barriers to schemes progressing more quickly.
• The total Fund amounts to £3billion and finance is available to draw down up to 31 March 2021. Developer to apply to HCA.

Housing Infrastructure Fund (grant finance)

• The fund will be used for projects such as roads and water connections that will support the construction of up to 100,000 new homes in the areas where they are needed most.
• The fund, which runs to 2020-21, was announced in the Autumn Statement as part of a series of measures to boost UK infrastructure.
• The total Fund amounts to £2.3 billion and is split as follows:
• £1.4 billion will be used to provide 40,000 new affordable homes, including some for shared ownership and some for affordable rent.
• £1.7 billion will be used to speed up the construction of new homes on public sector land

Starter Homes Partnership

• Partnerships have been established under the government's £1.2 billion Starter Homes Land Fund which supports the development of starter homes on sites across England.
• Starter Homes will be built exclusively for first-time buyers between 23 and 40 years old at a discount of at least 20% below market value.
• In January 2017 FBC was one of 30 local authorities selected as a partner for the programme on the basis of potential early delivery.

For Further Information Contact:

Jan Lasnon, PR & Marketing Manager, tel: 01329 824302

fax: 01329 821518, e-mail: publicity@fareham.gov.uk