This money will enable the local authorities with ambitious plans for growth to invest in the essential services that need to accompany the building of new homes, from transport links and schools to the regeneration of town centres and the provision of parks and other green spaces.
Under the Growth Points scheme over the next two years Exeter & East Devon will receive more than £7.2m, Plymouth around £ 10.9m, Poole more than £4.9m, Swindon more than £9.9m, and Taunton more than £7.9m. A further £4,6m has been awarded to Torbay more than £4.6m to Truro, £13m to the West of England* £4.1m to Kerrier and Restormel, and £2,7m to Teignbridge.
Housing Minister Margaret Beckett said:
"In these difficult economic times we must not lose sight of the long-term need to build more homes. Yet if the support for these new homes is not in place, their construction will be delayed when we need them most, hampering the economy's recovery. This means we need to be investing today in tomorrow's infrastructure, while allowing local authorities to decide their own local priorities for spending this money. Today's announcement delivers on both fronts.
"This money is targeted at those local authorities with the most ambitious growth plans. As well as helping to build the new homes we need, it will ensure we have the support and infrastructure in place so that these homes become part of the existing community, not a burden on their resources."
The £605m Growth Fund will be one of the funding streams managed on behalf of Government by the new Homes and Communities Agency. It is in addition to the £227m already being paid out for the current year, and completes an overall investment package of £832m for these local authorities.
