£500m approximately will be available in the second round of the Government’s Kickstart Regeneration Scheme after first round bidders are turned down due to not meeting value for money or quality standards, or could not meet the timescales.
The Homes and Communities Agency shortlisted 270 schemes for the £925 million fund in July. This was part of the Kickstart project to drive house building by injecting funds into regeneration schemes that have been stalled by the economic downturn.
All the money was earmarked for the projects that were originally shortlisted.
But Housing Minister John Healey has announced the final 115 schemes will be funded through the first round of Kickstart, which will receive £389 million between them to deliver just fewer than 9,000 homes. This brings the total allocation for round one to £449m, to fund 11,762 homes.