Government invests £19.5million of infrastructure funding into Wycombe district
The Government has announced that the Wycombe district will receive over £19million in funding towards infrastructure that will help to ensure that housing growth in Princes Risborough and High Wycombe is possible.
Wycombe District Council, with support from Buckinghamshire County Council, put in two funding bids to the Housing Infrastructure Fund for projects which could help pay for new and improved infrastructure to be built ahead of new homes.
Housing Secretary Sajid Javid and Chancellor Philip Hammond announced that Wycombe District Council will receive £7.5million to improve the junction at Kingsmead Road and Abbey Barn Lane in High Wycombe, following the release of Abbey Barn North and South reserve sites. In addition, £12million of funding has been awarded to help with new infrastructure that will be needed to support housing growth in Princes Risborough, subject to the local plan being approved.
Cllr Katrina Wood, Leader of Wycombe District Council, commented: "We’re really pleased that the government has decided to invest over £12million into infrastructure in Princes Risborough and over £19million in the Wycombe district overall. Where new or improved infrastructure is needed before new homes are built, it’s often difficult to secure the funding from developers to make this happen and housing growth stalls as a result. This investment from the government will break this cycle and, subject to the new local plan being approved, help us to get new infrastructure in place, which in turn will enable much needed new homes to be built within the district to tackle our chronic housing shortage.”
Mark Shaw, Buckinghamshire County Council's Deputy Leader and Transport Cabinet Member said he was delighted at the district councils' successful bids for Housing Infrastructure Fund awards. "We look forward to working with our district council colleagues to deliver the infrastructure needed to support the housing growth envisaged across Buckinghamshire," he said.
The £5 billion Housing Infrastructure Fund is a government capital grant programme to help unlock new homes in areas with the greatest housing demand. Funding is awarded to local authorities on a highly competitive basis. Wycombe District Council has been awarded funding as part of the Marginal Viability Fund which was available to all single and lower tier local authorities in England to provide a piece of infrastructure funding to get additional sites allocated or existing sites unblocked quickly. South Bucks District Council and Aylesbury Vale District Council were also successful in receiving funding.