£18m boost for Cambridgeshire affordable homes programme
An £18m government funding boost for Cambridgeshire and Peterborough Combined Authority’s affordable housing programme has been approved.
The funds will help secure the construction of 1,188 affordable homes across Cambridge and Peterborough through 18 schemes.
Minister for regional growth and local government, Luke Hall MP, confirmed funding of £18,704,717 in a letter to Cambridgeshire and Peterborough mayor Dr Nik Johnson.
Dr Johnson said: “The unlocking of this money is confirmation that we are heading in the right direction to meet our target to deliver our affordable housing programme by March 2022.
“Building on this confidence, I am committed to delivering social and affordable homes across Cambridgeshire and Peterborough.”
The government previously withheld £45m in funding for affordable housing from the Combined Authority.
The funds were originally included as part of an £100m affordable housing agreement as part of the 2017 devolution deal. However after providing £55m, the government withheld the remaining £45m citing concerns over lack of progress and value for money.
This latest funding approval comes following months of conversations between the two parties.
It will allow the Combined Authority to complete its current affordable housing programme and focus on delivery aspirations beyond March 2022.
The Combined Authority’s housing committee will today (Monday, September 6) hear the eight affordable housing principles on which it will base its commitments.
Dr Johnson continued: “They focus on some of the core best practice principles for which we want to be held accountable and commit to, such as prioritising housing for those on the lowest incomes, helping projects achieve greater affordability housing percentages, earlier delivery or even where appropriate using public land for building. We want to support initiatives that speed up housing delivery and that commit to net zero carbon principles.
“It’s only by setting these standards that we can sew compassion and ensure we’re finding the solutions that our communities need.
“We all deserve to live in homes we can be proud of, and these principles will help create a future social and affordable housing stock that puts people and not profit first, where a home is linked to good health, aspiration and wellbeing, which can only benefit everyone.”