Housing Private Finance Initiative (PFI)

Leading the way

West Wiltshire District Council is leading the way in the region with an innovative private finance initiative (PFI) scheme to provide at least 400 new homes for affordable rent.

This will enable many of the households who are currently unable to access suitable accommodation to have a decent place to live.

We are facing an unprecedented level of need for affordable housing, and we are unable to meet this through just Housing Corporation funding and the planning system (section 106 agreements). This is a major issue for local people, as reflected in the Corporate Plan, the Local Strategic Partnership (LSP) community strategy and the community area plans.

PFI is the best value option for us after social housing grant and section 106 schemes have been maximised, and there is strong cross-party support for this approach. Our outline business case was approved in March 2006, leading to a substantial allocation of PFI credits from Communities and Local Government (CLG).

This is the only housing PFI scheme in the South West and one that is being keenly watched by other councils. It is a pathfinder scheme in many ways, the most exciting of which is the opportunity for our chosen partner to provide at least half of the development land. This could also be the key to unlocking new schemes for other authorities like us.

We intend to achieve excellent value for money through the procurement process, so that we can deliver the maximum number of homes, of the required standard, within the available funding. These new homes will be provided on multiple sites across the five towns in the district and in some of our larger and more sustainable villages.

For more information, please contact project manager Chris Trowell on 01225 776655 x564 or email pfi@westwiltshire.gov.uk