Fife Council working with Kingdom Housing Association is to build council homes for rent after receiving cash from the Scottish Government, reports GAIL MILNE.
In May this year, housing associations and councils submitted funding bids to the Scottish Government as part of the £55m Innovation and Investment Fund.
Earlier this month the Scottish Government announced the successful bids as part of the £55m funding stream and Fife received approval for five projects worth £5million.
Keith Brown, minister for housing and transportation, has announced the fund was being doubled and further approvals have been confirmed.
Fife received additional approvals through this second tranche and this will allow various projects to now start on site.
Fife Council will be progressing two council new build projects in Cupar and Anstruther and this will provide 28 new council houses for social rent.
Councillor Brian Goodall, chair of Fife Council’s housing and communities committee, said: “The successful bids for Scottish Government funding will allow Fife Council and Fife Housing Association Alliance to continue with their programme to provide new affordable homes for Fife.
“Fife Council, as well as building their own affordable housing, is pleased to be able to provide additional funding to support the projects of our housing association partners.
“This joint approach continues to ensure the best use of resources in a time of budget challenges.”
Kingdom Housing Association is the lead developer for the Fife Housing Association Alliance and Kingdom was also successful with their funding bids. The Housing Association’s projects approved in Fife will be developed in Dunfermline, Glenrothes, St Andrews, Cellardyke, Ballingry and Cupar and will provide 116 new affordable homes.
In addition to the Fife projects, Kingdom has also received funding approval for an eight unit project in Perth City Centre and a second phase of 23 new homes at Overton in Falkirk.
The funding awarded to Fife Council and Kingdom from the Scottish Government is over £5m for the projects. Additional funding to Kingdom has also been provided by Fife Council, who recently approved support of £690,000 for approved projects. The balance of the costs will be funding through private borrowings.
Bill Banks of Kingdom Housing Association said he was “very pleased” that the funding bids from Fife Council and Kingdom had been successful.
He added “The projects in Fife meet a range of affordable housing needs, however, the pressures on the Scottish Government budgets made it very challenging to develop viable project proposals.
“However, the partnering approach and additional funding support from the council has made this possible.
“Despite the current funding pressures, Fife still has a sizeable affordable housing programme.
“The current projects include two council new build projects, which are on site in Fife and a further 217 Fife Alliance new homes are due for completion during the year.
“The approvals will mean additional projects will start on site before the end of the year however, the need for affordable new homes continues to grow and additional funding is required to expand in the current programme.”