This week Grant Shapps, Minister for Housing and Local Government, announced that Norfolk County Council will be receiving £799,055 on 15 April as the final allocation of the New Homes Bonus for Year 1 of the scheme (2011/12).
The New Homes Bonus will fulfil the Coalition Government’s commitment to provide local authorities with real incentives to deliver housing growth. This means that for every new housing addition in Great Yarmouth and Norfolk the council will receive match funding for the council tax paid for each of the next six years. It will also ensure that the economic benefits of housing growth are visible in the communities where the growth takes place.
This is fantastic news for the housing stock in Great Yarmouth and Norfolk. It provides real incentives for developments to take place for and shows the Coalition Government’s commitment to providing new and affordable housing.
The New Homes Bonus will not only provide an increase in the housing stock but the money generated from the match funding will allow the council to invest in numerous other local services which will be of benefit to those across Norfolk.
6th April 2011