Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

TWO COUNCILS WIN PFI BID

  • Comment
Just two councils out of 13 bidders have been given a firm place on the fifth round of the private finance initiati...
Just two councils out of 13 bidders have been given a firm place on the fifth round of the private finance initiative (PFI) for housing.

North Tyneside and Salford City councils will be able to access up to£200m of funding from the Treasury to modernise and regenerate areas covering more than 3,000 homes.

Two other bids to redevelop and refurbish social housing - from Leeds City Council and Barking & Dagenham LBC - have been put on a 'reserve list'. The councils will have to hold further talks with the government next year before they can be given a firm place.

The Department for Communities & Local Government said it would make a decision on the other nine bids in the new year.

The announcement yesterday was almost five months later than housing minister Yvette Cooper had originally said the government would reveal the successful bidders.

Housing PFI was awarded£1.22bn for its fourth and fifth rounds. Many schemes have taken years to get off the ground. Just six schemes reached contract signature this year.

Housing, Planning & Environment

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.