It was announced this morning that the Government are planning to introduce the New Homes Bonus scheme, to encourage the building of new homes.
It’s been proposed by the Conservative Housing Minister, Grant Shapps (pictured right), and they plan to published a consultation paper on the final scheme following the coming Spending Review period.
Under the scheme, the Government would make payments matching the first six years worth of council tax payments for qualifying new housing developments. The council would then be free to do what they want with those monies.
Mr Shapps said, “I urge councils to seize the moment and open up a debate with their communities now about the new homes they need and how they would use the new Bonus.”
Pan Meadows to qualify?
It’s currently unclear if the Pan Meadows development scheme would be covered under the new scheme, as the planning permission for the site has been approved, the contractor has been selected and heck, it’s even been given its new name – Pan Meadows.
We contact IWC this morning and got the following reply, “Full details in respect to this scheme are not expected to be announced until October so until then we do not know the full impact in respect to Pan Meadows.”
The IW council has twice previously missed out on funding under the KickStart programme.
