Release date: 4 October 2007
Promoter – Financial Intermediary
Torfaen County Borough CouncilLocation
Description
Programme of renewal and improvement of social housing stock integrated within the County Borough’s broader-based regeneration strategy. The operation is to finance the refurbishment programme undertaken by the borrower and comprises adaptation, catch-up repairs and improvement works to the stock.
Objectives
The project aims to improve the condition and standard of social housing currently owned by the local authority. It is eligible for EIB financing under Art 267 (a) and (c) of the Treaty on European Union: improvement of the urban environment and social cohesion in a regionally assisted area.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to GBP 70 million.
Total cost (Approximate amount)
GBP 200 million.
Environmental aspects
Compliance with the EC environmental directives and national laws shall be ensured. Given the scale and nature of the sub-projects – modernising, rehabilitation of the social housing stock, upgrading associated urban infrastructure – it is unlikely, in most cases, that an EIA would be required.
Procurement
Compliance with the EC procurement directives and national laws shall be ensured.
Status
Signed - 31/03/2008