The Council holds a Landbank Fund which is used to provide loans and grants to partner organisations, enabling strategic sites to be secured or prepared for development of housing. The Landbank Fund is a revolving facility with loans repaid as land and property is resold or developed. The Fund can also be used to provide grant assistance.
During 2008/09 forward funding of £4,630,000 was provided to housing associations throughout the Highlands, enabling affordable housing projects to be progressed.
A further number of priority affordable housing projects have now been discussed with the Scottish Government and housing associations on the basis that the Highland Council’s Landbank fund could provide short term funding with monies being repaid from the Government’s 2010/2011 investment programme, or from slippage within the 2009/10 programme.
Forward funding will enable starts on site for the proposed affordable housing projects listed below:-
Sellar Place, Conon Bridge
Number of units: 25
Funding: £140,000
Old Evanton Road, Dingwall
Number of units: 12
Funding: £340,000
Jubilee, Dingwall
Number of units: 5
Funding: £100,000
Drummuie, Goslpie
Number of units: 20
Fuinding: £660,000
Grant Arms, Grantown
Number of units: 5
Funding: £150,000
Sawmill, Kiltarlity
Number of units: 13
Funding: £260,000
Phase 1, North Kessock
Number of units: 16
Funding: £375,000
Balloch, Inverness
Number of units: 5
Funding: £100,000
Nairnside and Easter Muckovie, Inverness
Number of units: 8
Funding: £160,000
Youth Hostel, Kyleakin
Number of units: 10
Funding: £124,059
Raasay
Number of units: 6
Funding: £104,826
Former Dairy, Balmacara
Number of units: 8
Funding: £161,634
Former Medical Centre, Kyle
Number of units: 5
Funding: £166,933
These projects add up to a total of 138 units with funding of £2,842,452
The Council is also considering further forward funding provision of £1,725,000 for an additional 7 housing projects throughout the Highlands and more details will be included in future news reports.
| Return to Development Matters 11