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How to Benefit From the Local Authority Land Release Fund

The UK government has released a package designed to make land available for thousands of new homes.

The scheme, which is worth £54 million, is part of a new governmental partnership to make better use of property owned by the government.

The total consists of two land release fund programmes:

  • The ‘Land Release Fund’ from the Department for Communities and Local Government. The goal of this £45 million funding is to release surplus or unused land to help make enough council land available for at least 160,000 homes by 2020. Councils can now seek funding for small-scale infrastructure and land remediation, making sites available for housing.
  • One Public Estate. This bundle makes £9 million available to help more councils deliver ambitious programmes related to property delivery.

It is anticipated that by 2020, councils taking part in the programme will deliver £615 million in capital receipts and cost savings of £158 million. Land will be released for 25,000 new homes and 44,000 new jobs will be created.

 

Structural Defects Insurance

Last February Housing and Planning Minister Dominic Raab announced the land release fund awards after bids from local authorities across the country were competitively assessed on innovation, value for money, and contribution to overall government housing objectives.

There was a total of 79 bids that passed the assessment process and will see £45 million being provided to 41 authorities across the country. One of them is Maidstone Borough Council, which will receive £658,000 in grant money to undertake demolition, decontamination, and ground level work to build up to 94 homes, 30% which will be dedicated to affordable housing.

The land release fund, which is expected to overcome the administrative barriers to the release of council land for housing purposes, is expected to facilitate the construction and development of 7,280 homes across the country. The projects, which have a common goal of creating stronger communities, include a variety of essential works such as bat alleviation and asbestos removal as well as schemes intended to improve quality of community life.

Mr. Raab said that the £45 million that the DCLG provided to the land release fund is part of an overall strategy to construct the homes that the UK needs and involve local communities in the effort. He confirmed that the government is committed to make renting or buying more affordable for young families in addition to low or middle-income individuals.

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