£8 million of new funding for affordable homes across South and Vale
£8 million could be pumped into providing more affordable homes across South Oxfordshire and the Vale of White Horse following Cabinet meetings at the two district councils this week.
Both councils have a strong commitment to delivering genuinely affordable housing, and reports being discussed by the councils’ Cabinets set out the options to how to spend nearly £4 million in each district to provide a huge boost to local families looking for affordable homes in the area.
Cabinet members will discuss making a recommendation to spend the money, which has been received from housing developers that are building in the two districts. This would be additional to targets that the developers are already committed to as part of their planning permissions. This council led initiative will deliver much needed affordable housing, community-led projects and environmentally sustainable projects across the two districts.
The reports are being discussed at the Cabinet meetings at South Oxfordshire District Council on 1 October and at Vale of White Horse District Council on 2 October. The funding will be secured through a variety of means such as developer contributions and through an affordable housing delivery programme. There will be criteria on how the money may be spent.
The respective Cabinet meetings will discuss and then vote on the decision at their meetings this week.
The housing industry was particularly affected by the Covid19 lockdown when construction sites closed earlier this year. During this time, the housing industry is delivering at a slower rate than before. Additional investment will ensure that momentum is kept in the delivery of much-needed affordable homes for our residents.
Cllr Robin Bennett, Cabinet Member for Economic Development and Regeneration at South Oxfordshire District Council, said: “We’ll be working tirelessly to ensure that residents of South Oxfordshire have genuinely affordable homes available. This funding allows us to support social rent housing, which is substantially cheaper than market rents, as well as projects with high environmental standards, and will be one of many steps we’ll be taking in the coming years to make a significant difference to the availability of good quality homes our residents, and their children and families, can afford to live in.”
Cllr Judy Roberts, Cabinet member for Development and Infrastructure at Vale of White Horse District Council, said:“It’s no secret that we live in one of the least affordable areas of the country and we’re doing everything within our power to address that challenge. There are long term problems to tackle, but we can also address immediate difficulties, and this money would make a significant difference in the lives of many in our district in the very near future. I have been an active supporter of affordable housing initiatives and I hope that this new investment will help to make these a reality.”