£70 million is available through the Local Growth Fund to accelerate property development projects across the Black Country. A new website has been launched which details available funding streams for investment with a view to delivering projects within the next 12-18 months and subsequently until 2021.
It includes a £15 million Black Country Housing Fund, launched in September, to support the delivery of new housing schemes. The Fund highlights the opportunities provided by the large areas of brownfield land suitable for new housing to accommodate planned housing growth in the Black Country, with the Fund as a key tool to unlocking these sites.
A new set of measures have also been put in place to simplify and accelerate the assessment process with the requirement to identify a programme of priority schemes capable by early delivery with the support of the Fund by end of November 2015.
Stewart Towe, CBE, Chairman of the Black Country LEP said: "The Black Country LEP has the best performing EZ in the Country with over 2,000 new jobs and 5 tenants at i54. Central Government is now listening to us.
We urgently need to support the growth opportunities created by investments such as JLR, their supply chain as well as the wider renaissance in manufacturing. To do this, we need to work closely with private sector developers to assist them to deliver the good quality sites and premises required to meet this demand.”
Chris Thomas, Director of Thomas Lister said: "We are delighted to be supporting the Black Country LEP in this programme. We will be seeking to work closely with interested parties and their advisers to find the right funding to support their project proposals.
We will ensure that the necessary support is available to enable applications to be determined as quickly as possible to seek to accelerate the pace of development across the Black Country.”
Property development funding is available within each of the four Black Country Local Authority areas and can be used for site investigations/project development, remediation and delivery of both residential and commercial development (B1, B2 and B8).
Visit the new website for details of all funding programmes: www.blackcountrydevelopmentfunding.co.uk