Communities Secretary, Sajid Javid, has announced a £2.3 billion
Housing Infrastructure Fund (HIF) which could
unlock 100,000 new homes in areas of high demand.
The fund will be available to help pay for physical
infrastructure projects such as the building of roads, bridges,
energy networks and other utilities which may be holding back
progress on housebuilding.
The fund is open to bids for local authorities across England to
come forward with proposals to help get homes built faster. Once
proposals have been approved, it is expected that local authorities
would begin building the necessary infrastructure immediately and
for the homes to follow quickly afterwards.
Launching the HIF at the LGA Conference in July, Sajid Javid,
"To build the homes this country needs, we need to deliver
the right infrastructure in the right place at the right time. By
investing in local infrastructure, we can help unlock building
thousands of new homes in the areas where they are needed most. The
Housing Infrastructure Fund will also make sure we have better
public services in place for local communities."
HIF forms part of the new £23 billion National Productivity
Investment Fund announced at the Autumn Statement 2016. The £2.3
billion of capital grant funding will be allocated to local
authorities on a competitive basis and funding will be available
from 2017-18 to 2020-21.
The HIF is divided in two parts:
- A Marginal Viability Fund to provide the final or missing piece
of infrastructure funding to get additional sites allocated or
existing sites unblocked quickly
- A Forward Fund for a small number of strategic and high-impact
A ready reckoner is also available to give local authorities an
indication of how proposals will look from a value for money
Read full details of the HIF and how to