New funding for housing

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HOUSE building in Sheffield has had a boost with the news that £12 million has been awarded to the region to kick-start projects.

The cash has come from a £500m Government fund to help boost housing and infrastructure development.

The Growing Places Fund is aimed at helping to cover up-front capital costs that prevent housing projects getting off the ground. Loans will be offered to pay for up-front costs, which will be paid back after developments are sold off.

The money has been offered to 38 local enterprise partnerships, made up of business and local council representatives.

Sheffield City Region LEP, which received £12.3m, also represents Barnsley, Rotherham and Doncaster.

Sheffield Hallam MP and Deputy Prime Minister Nick Clegg said: “The Coalition Government is determined to get the economy moving again and create jobs. We need to get projects in Sheffield up and running as quickly as possible and that’s exactly what this will help to do.

“I want to make sure that our economy benefits places like Sheffield and South Yorkshire and not just London and the South East, which is what the Growing Places Fund is all about.

“It’s also why I was proud last week to announce £1bn of government money through the Regional Growth Fund for projects that will create jobs here and around the country.”

Communities Secretary Eric Pickles said: “The £500m Growing Places Fund will unlock much-needed local infrastructure and get the homes we need built. It will be local enterprise partnerships, made up of the people and businesses who know their local areas best, who will decide where this cash boost will be spent.”

Road improvements and infrastructure to deal with flooding, enabling homes to be built, are among projects which could be funded.

The Local Enterprise Partnership for north Derbyshire and north Notts will get £17.4m.