Date: 26/03/2008 Category: Housing and Homelessness
Portfolio holder Cllr Howard Doe has said he is "thrilled" with the initial cash sum allocated to building affordable homes in Medway over the coming three years. The first allocation in a new three-year funding deal has seen the Housing Corporation come forward with an affordable housing grant of £8,154,000 in response to bids to build new homes in Medway made by the council's affordable housing partners. "I am absolutely thrilled with the success of this bid, which will help us push ahead with plans to create hundreds of new affordable homes in Medway," said Cllr Doe, whose responsibilities as Portfolio Holder for Community Services include housing. The settlement, described by Cllr Doe as "very impressive" is the first to have been received under new Housing Corporation rules. Because of the way the funding is allocated to building new houses, the initial bid will result in an investment of more than 20m between 2008 and 2011. The Housing Corporation is also now inviting further bids for additional investment every six months. "In Medway’s case the funding secured so far will provide 258 new affordable houses between now and 2011. More importantly, it will mean 992 people will be able to move into their own, affordable home. "I am delighted at the way we have been able to work with affordable housing providers to secure good quality affordable homes for local people who cannot afford to buy or rent a home on the open market. We know there is a growing need for affordable housing and this will help to meet that need. The schemes for which funding has now been secured will deliver both social rented houses and homes for shared ownership."