google7b14064368351f63.html
Menu

£3.5M GOVERNMENT BOOST FOR QUADRANT HOUSING PROJECT

A £3.5m government grant has today been awarded to Boston Borough Council to speed up delivery of the Quadrant housing project, which also includes the first phase of the Boston bypass and a new Boston United football stadium.

Welcoming the announcement, Matt Warman MP said, “This boost for Boston will make sure housing and the much-needed bypass road are delivered as soon as possible, and safeguards the long-awaited new football stadium for Boston United. It shows that the Government is putting its money where its mouth is on infrastructure and housing, and I’m delighted Boston is one of the first projects to be supported.”

The Government has announced an £866 million investment nationally in local housing projects to help get up to 200,000 extra homes built across the country. In Boston this could deliver 350 homes by 2022, and 500 homes in total.

This funding will support local work that will make housing developments viable and get much-needed homes built more quickly. Without this financial support these projects would struggle to go ahead or take years for work to begin. Matt added, “I’ve supported this bid to the Housing Infrastructure Fund from the very beginning, lobbied the Housing Minister personally and made the case for investment in Boston – alongside the Flood Barrier, today’s announcement is yet another vote of confidence in our thriving town, which could deliver 350 homes by 2022, and 500 homes in total. We are determined to build the right homes in the right places and help the next generation to get the keys to a home of their own.”

The Government is committed to building 300,000 homes a year by the mid-2020s so more people are able buy a home of their own. The funding announced today is the first wave of funding from the £5 billion Housing Infrastructure Fund which is part of its comprehensive programme to fix the broken housing market that has left too many struggling to afford a place of their own. This latest investment will fund key local infrastructure projects including new roads, cycle paths, flood defences and land remediation work, all essential ahead of building the homes.

Cllr Michael Cooper, Leader of Boston Borough Council said, “The good news for Boston just keeps on coming. The Council put together the bid for this funding and is pleased that Government has recognised the efforts being made to do all possible to smooth the path for more housing in this area. It is for projects of marginal viability, so can be used for those housing projects already planned but which might otherwise have been slower in coming to fruition because of issues around funding for necessary infrastructure. With this not insubstantial amount of cash available, this will mean more much-needed homes, quicker.”

Chancellor of the Exchequer, Philip Hammond, commented, “Today marks the first step of the multi-billion pound investment we announced at the Budget to help build the homes our country needs. This fund finances vital infrastructure such as roads, schools and bridges, which will kick-start housing development in some of Britain’s highest-demand areas.

Housing Secretary, Sajid Javid, said, “Our priority is building the homes this country desperately needs. This first wave of investment totalling £866 million will help get up to 200,000 homes off the ground, making a huge difference to communities across the country. This is just one of the many ways this Government is taking action to get Britain building homes again.”

  • The £5 billion Housing Infrastructure Fund is a government capital grant programme to help unlock new homes in areas with the greatest housing demand. Funding is awarded to local authorities on a highly competitive basis.
  • The fund is divided into two streams:
    • A Marginal Viability Fund – available to all single and lower tier local authorities in England – to provide a piece of infrastructure funding to get additional sites allocated or existing sites unblocked quickly. Bids have a soft cap of £10 million.
    • A Forward Fund – available to the uppermost tier of local authorities in England – for a small number of strategic and high-impact infrastructure projects. Bids have a soft cap of £250 million.
  • Today’s announcement forms part of the Government’s Industrial Strategy which sets out a long term plan to boost the productivity and earning power of people throughout the UK.
  • The strategy sets out how we are building a Britain fit for the future – how we will help businesses create better, higher-paying jobs in every part of the UK with investment in skills, industries and infrastructure.
Share this onShare on FacebookTweet about this on TwitterEmail this to someoneShare on LinkedIn
Please like & share:

Have you followed Matt on Facebook and Twitter?