Magazine article Public Finance

First Kickstart Housing Projects Short-Listed

Magazine article Public Finance

First Kickstart Housing Projects Short-Listed

Article excerpt

Efforts to revive the house building industry moved up a gear this week with publication of a short list of 270 stalled schemes eligible for Kickstart programme funding.

A total of £925m will be allocated to projects across England under the first wave of the £lbn programme, which is designed to finance building projects halted by the credit crunch. The programme, announced in this year's Budget and expanded last month in the Building Britain's Future announcement, is being run by the Homes and Communities Agency.

About half the money is being offered as repayable loans or equity financing, while £209m will be granted for extra social rented housing.

Announcing the short list on July 27, housing minister John Healey said the schemes, mostly put forward by housing associations or private developers, would lead to the construction of more than 22,000 homes and create about 20,000jobs.

'This is not a hand-out to developers. …

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