8 November 2006
HANSON GRANTS £2 MILLION KICKSTART FOR PRIVATE HOUSING
Additional grant support of £2 million is now available to developers to stimulate private sector housing in deprived inner city areas of Belfast.
Minister for Social Development, David Hanson MP said: "Earlier this year, I launched the Renewing Communities Action Plan, which sets out a framework for tackling disadvantage in some of Northern Ireland's most disadvantaged communities.
"As part of this, I am now making available an additional £2million worth of grant support for developers, over the next two years. It is hoped that this financial assistance will stimulate the development of private sector housing in the deprived inner city areas of Belfast, where there is clear evidence of a market in decline.
"Such grant support is key to regeneration and in tackling the problems created in some areas by changing demographics, resulting from such issues as population drift. The Government is committed to stemming the decline of these areas and securing the healthy future of communities suffering from disadvantage."
The Department for Social Development is now inviting applications from developers for private housing schemes which use vacant, derelict or underused land and buildings. Mixed-use development schemes, where there is a significant element of housing provision, will also be considered.
NOTES TO EDITORS:
1. The amount of grant offered will be that needed to cover the shortfall between the cost of the development and its value on completion. A shortfall of up to 40% of total development costs may be applicable.
2. Further information about the grant scheme, including the appraisal process, location of targeted areas of Belfast and application packs can be obtained from: Urban Development Grants Branch, Belfast Regeneration Office, 3rd Floor, James House, 2-4 Cromac Avenue, Gasworks Business Park, Belfast, BT7 2JA.
3. Additional information can be found at www.dsdni.gov.uk
following the link to the Urban Development Grant scheme. 4. Media queries to: Information Office, DSD, Tel: 028 9082 9078.
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