Through the Growth Deal, NEP secured over £26m of Public Works Loan Board (PWLB) funding to utilise towards unlocking constraints within Northamptonshire’s Sustainable Urban Extensions (SUEs) and large housing sites to accelerate housing delivery.
Applications were invited for schemes which are currently stalled or in development which can be supported and brought forward with investment from the Unlocking SUEs Fund, a key mechanism for supporting the ambitious economic growth of Northamptonshire and an integral part of the county’s Strategic Economic Plan (SEP). The scheme has now recently expanded to include large housing sites of over 200 houses.
Applicants to the fund were advised to note the following application criteria that projects must:
- Be deliverable in the short-term (i.e. start on site within 12 months of application)
- Be able to demonstrate that they will accelerate housing delivery and bring additional
- Be secured and have a viable mechanism for repayment
- Have a long-stop date (maximum of ten years) by when the investment must be repaid
Each project needed to demonstrate the direct outputs it will generate that relate to economic and housing growth. In particular, projects needed to demonstrate that they will:
- Create and unlock new jobs
- Deliver and unlock new housing units and/or commercial floorspace
- Bring brownfield land back into commercial /residential use
- Match investment through other public/private finance sources
- Create new apprenticeships
The outputs of each project are assessed against the investment required to determine its value for money.
For further information about how to apply for SUEs funding, contact Sajeeda Rose, Chief Operation Officer, NEP on 01604 609393 or email email@example.com or to download an application pack, please click here.
The deadline for submissions (second call) is 12 noon on 21 September 2015.
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