New Development Corporation Competition
Published 26 October 2019
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This publication is available at https://www.gov.uk/government/publications/new-development-corporation-competition-guidance/new-development-corporation-competition
About the competition
The government announced at Autumn Budget 2018 that it would be establishing a new £10 million capacity fund to generate innovative proposals for new business-backed development corporations and similar delivery models.
We are looking for up to 10 transformational housing and economic growth opportunities, focusing on regeneration, and are interested in speaking to areas that have innovative, bold and ambitious proposals. Funding will help them to explore delivery models that have been less commonly used in a contemporary context, such as development corporations.
We recognise that applicants will be at different points in this process – from feasibility work around exploring potential delivery models to refining work on a delivery vehicle to make it proposal-ready.
The competition is now open for applications and will provide local authorities with up to £10 million over 3 years beginning in 2019 to 2020.
Who can apply?
Local authorities are eligible to submit expressions of interest (EOIs), whether individually or in partnership with other local authorities.
We strongly welcome applications from private or third sector organisations made in partnership with local authorities.
Eligibility criteria
Applicants will need to:
- demonstrate that they can use the requested funding to progress work and generate proposals for innovative delivery models such as development corporations
- demonstrate that the delivery models being explored are intended to deliver a transformational housing or regeneration project
- endeavour to make key learnings from the funding available to other local areas and to central government in order that best practice and lessons learned can be disseminated, not including commercially sensitive information
Assessment process
More detail on the assessment process will be provided in the expression of interest form that will be sent separately to bidders. In making awards, priority will be given to applications that demonstrate:
Strategic fit – the project is supporting transformational regeneration or housing delivery in the areas of the country where it is needed most.
Deliverability – while we recognise these transformational housing and regeneration projects are likely to be at an early stage, we would like to see a route map for delivery which demonstrates an ambition to deliver in a reasonable timeframe. We would also hope to see appropriate consideration of private sector involvement and potential funding streams.
Application process
The competition is open to applications on a rolling basis.
To register your interest in applying for the competition, please contact Ministry of Housing, Communities and Local Government (MHCLG) at newsettlements@communities.gov.uk
MHCLG’s New Settlements Team will then send you an EOI form to complete.
Once initial assessment of the EOI has been conducted, we expect to enter into a period of further engagement prior to making a final decision on the allocation of funds. We will look to agree how best to continue engagement with successful local authorities as their work on delivery models progresses.