Issue details

In late July, Government published guidance on the Housing Infrastructure Fund (HIF). The HIF is a new £2.3 Billion national infrastructure investment programme designed to unlock the delivery of up to 100,000 new homes in areas of high demand in England. The HIF has two distinct funding elements with the Forward Fund aimed at unlocking large strategic housing growth opportunities and the Marginal Viability Fund focused on the delivery of smaller housing development sites.

This report focuses on the Government’s Forward Fund opportunity, given only upper tier and unitary local authorities can apply to Government with the support of relevant local partners. At this stage, the County Council potentially has two viable Forward Fund proposals. These include an investment proposition for the established Preston, South Ribble and Lancashire City Deal initiative, and another for South Lancaster based on recently secured national Garden Village status.  Cabinet approval is sought for the development of both these Forward Fund proposals along with limited funding to support the development of competitive Expressions of Interest (EOIs).

Given pressing timescales, approval is also sought to authorise the Leader of the County Council, Cabinet Member for Economic Development, Environment and Planning, and Cabinet Member for Highways and Transport to finalise the County Council’s EOI submissions, in consultation with the Director of Economic Development and S151 Officer.

This is deemed to be a Key Decision and the provisions of Standing Order 25 have been complied with.