A 拢25m private finance initiative credit has been bumped up to 拢30m after delays in getting a Kent regeneration project off the ground.
The plan for the Stanhope estate in Ashford has been in the pipeline since 2002 but had been stalled by the 拢5m funding gap.

Ashford council鈥檚 chief executive, David Hill, said: 鈥淭his is quite normal for schemes of this type and magnitude. The time between the initial announcement of funding and the conclusion of negotiations generally means costs will rise.

鈥淲e now have a much better idea of what the true costs will be and can show what increased benefits will arise from the project.鈥�

The single PFI bidder, Partners for Improvement in Ashford, can now complete negotiations with the local council and expects to start work next year.

The council aims to have the deal signed off by April 2005.

Source

Housing Today