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Aylesbury receives substantial funding boost.
31 July 2009
The Aylesbury regeneration programme has recently received a cash boost from the Homes and Communities Agency. It is one of ten local authorities across the UK (the only one in London) that will receive a share of £1.7billion to help deliver new homes across the country under the Private Finance Initiative (PFI).
The Private Finance Initiative (PFI) funding will finance the demolition and build of approximately 1,000 homes, open spaces and facilities in the second and third phases of the Aylesbury Regeneration.
The way PFI works is that private consortia, usually involving large construction firm and housing associations will be contracted to design, build, and manage the new homes built as part of the Aylesbury regeneration for 30 years. After this time the council will take over this responsibility.
The next stage of the PFI process is to prepare an outline business case over the next 18 months. This will clarify our requirements and test various options for selecting a consortia partner to deliver the PFI.
