RTTNews - Monday, U.K.'s Housing Minister John Healey announced GBP 925 million funding for 270 stalled development projects across the country.
The Kickstart programme is a key part of the Government's investment to help combat the recession, Healey said.
I want to see builders back on these sites within weeks. So I will be calling on successful developers to pull out all the stops so construction can restart as quickly as possible.
The scheme would help to start work on up to 22,400 homes and create 20,000 jobs on housebuilding sites that have been mothballed in the recession.
Healey noted that the programme is not a handout to developers. There are tough terms to this deal including repayment of loans within five years. And only builders who accept a realistic current market price for their land are eligible.
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