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Sat June 15 2024

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East London councils seek funding help from framework contractors

11 Aug 11 A consortium of local authorities in east London is seeking four contractors for a housing construction framework agreement.

The framework could be worth £100m over the four year period, comprising both housing refurbishment and new build.

However, the councils want contractors that will investigate alternative funding sources to meet the budget shortfall.

“Alternative financing would be required to plug a disparity between the available resources and the requirements of the housing investment programme through a form of forward funding that could supplement the mainstream capital programme until surplus funds are available after year five of the planned investment programme,” the contract notice states.

The contract is being advertised by the London Borough of Barking & Dagenham but the framework will be open to other councils that collaborate as East London Solutions, namely Redbridge, Havering, Newham and Tower Hamlets.

For more details, see our Contract Leads section.

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