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Signature(s)

Amount
€ 112,824,370.06
Countries
Sector(s)
United Kingdom : € 112,824,370.06
Urban development : € 112,824,370.06
Signature date(s)
25/06/2004 : € 112,824,370.06
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Summary sheet

Release date
24 October 2003
Status
Reference
Signed | 25/06/2004
20030333
Project name
Promoter - financial intermediary
Sunderland Urban Renewal Phase II

Sunderland Housing Group
Contact point: Andrew Taylor, FD,
Emperor House,
2 Emperor Way, Doxford
International Business Park,
Sunderland,Tyne and Wear
SR3 3XR United Kingdom.

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 108 million (GBP 75 million)
Up to EUR 359 million (GBP 250 million)
Description
Objectives

Following its purchase of Sunderland City Council’s social housing stock, the Sunderland Housing Group (“SHG”) is to undertake a second phase of its planned improvement programme, as part of the city’s wider urban renewal strategy. The second phase will consist of building 3000 new houses for social rent to replace poor quality stock which is to be demolished.

The objective is to extend SHG’s programme for the renewal of the urban environment in Sunderland by modernising the city’s social housing.

Environmental aspects
Procurement

The construction of new properties will lead to improvement in the efficiency of tenants’ energy usage and will significantly enhance the local urban environment. In its appraisal, EIB will review the project’s planning requirements and environmental implications.

Registered Social Landlords are private entities and while SHG therefore does not fall within public sector procurement regulations, it will use open competitive tender for the majority of the works.

Comments

Construction/ social housing.

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Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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