The Homes and Communities Agency has revealed which schemes will be affected as a result of its budget cuts.
The HCA was granted £390m yesterday by the Government to help plug a £610m black hole, on top of £170m announced at the end of May. But it is having to prune a further £230m from its budget.
The cuts mean many housing projects supported by the HCA's Kickstart funding, together with local authority schemes also backed by agency grants, have been placed under review.
The Kickstart housing projects affected are as follows (links to spreadsheets):
- Under review: 74 schemes comprising 7,078 homes, with a Kickstart contribution of £241m
- Going ahead: 130 schemes comprising 8,842 homes, with a Kickstart contribution of £174m
Local authority housing projects affected are as follows:
- Under review: 92 schemes, comprising 912 homes, with an HCA grant of £59m
- Going ahead: 298 schemes, comprising 3,192 homes, with an HCA grant of £203m
HCA chief executive Sir Bob Kerslake said: “We are pleased to have confirmation of the £390m and are working on how we can use it to maximise the impact for maintaining the supply of affordable housing and creating opportunity for communities.
“We can now firm up the position with our partners to create more certainty around schemes that have been on hold.
“It also means that we are now in a position to both meet commitments across our entire funding programme as well as providing funding for some additional affordable housing schemes.”