“I hope that local housing associations will be looking closely at this new housing infrastructure fund to boost the number of affordable houses in Inverclyde”, said the Stuart McMillan MSP, commenting on the launch of a new fund from the SNP Scottish Government.
The new housing infrastructure fund is part of the Scottish Government’s drive to build 50,000 affordable units over the next five years. The fund will provide up to £50 million in 2016/17 and is an integral part of the Scottish Government’s More Homes Scotland approach.
While any housing provider can apply, the fund is prioritising new build affordable rented and private sector rented housing.
The fund, which will be administered nationally by the Scottish Government, can comprise both infrastructure loans to private organisations and infrastructure grants to both local authorities and housing associations in order to support affordable housing supply programmes.
Where a grant is applied for, the development must fit in with the relevant local authority strategic housing investment plans.
The fund is intended to specifically target large strategic development sites and is available where infrastructure costs are such that they prevent the site being supported through the Affordable Housing Supply Programme.
Stuart McMillan MSP added:
“Accessing this fund would enable housing associations to build more affordable housing in Inverclyde.”