Wednesday, June 17, 2009

HCA announces pioneering long-term investment plan with Norwich

The Homes and Communities Agency (HCA) has announced plans for a long-term partnership deal with Norwich City Council, which will see it invest ВЈ7.5m in the city while the Council invests in 1,300 homes whichwill be jointly developed.

Speaking today at the CIH Conference in Harrogate, Terry Fuller, HCA Regional Director for the East of England, outlined details of the partnering agreement, which is set to last 12 years.

The surplus to come out of the sites could reach between ВЈ60-80m over the next 12 years, which will be reinvested into more regeneration schemes in the city.

The aims of the agreement are:

To accelerate the delivery of affordable homesTo increase the supply of private homesTo improve the quality of existing homesTo maximise the opportunities for local employmentTo deliver early outputsTo create sustainable communitiesTo deliver strategic regeneration projects within Norwich, such as eco-retrofit programmes or estate renewalADVERTISEMENT

HCA announces pioneering long-term investment plan with Norwich


Fuller said: “We have been in dialogue with Norwich City Council for the past four months, as part of our Single Conversation, and I now believe we have an outstanding deal on the table. I want to thank the hard work and commitment of the Norwich and HCA staff in bringing this together so quickly. This is about reimagining the way we deliver -  creating local homes, local jobs and sustainable communities for the future, and demonstrates what the HCA and local authorities can do in partnership together.” 

Chief Executive of the HCA, Sir Bob Kerslake, commented: “The deal announced today with Norwich shows that despite the current economic climate we’re making significant progress towards the Single Conversation way of doing business; something which we’re working to see replicated in other regions of the country in the coming months. As a place-based approach, it will take the vision and ambitions of local authorities and help them achieve their plans for regeneration and growth through a shared investment agreement.  Through this process, the HCA will act as the bridge between local ambition and national targets.”