Release date: 22 October 2004
Promoter – Financial Intermediary
Wakefield and District Housing LtdLocation
Description
Program of renewal and improvement of social housing stock as part of a wider urban regeneration strategy.
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) Regional Development and Art 267 (c) Common Interest – urban renewal/redevelopment. The project is also located within an Objective 2 area.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to GBP 200 million.
Total cost (Approximate amount)
In excess of GBP 600 million.
Environmental aspects
The project falls under Annex II of Directive 97/11, where the decision on the applicability of EIA is left to national environmental authorities. However, due to the nature and location of the various sub-projects/schemes forming part of the renewal and rehabilitation programme, formal environmental impact assessment is unlikely to prove necessary. The upgrade programme will therefore be subject to the environmental requirements of prevailing public planning regulations. Meanwhile, the Council has commissioned an environmental survey of the land that is likely to transfer to the Borrower. The project’s impact on the environment should be substantially positive, since it is expected to result in better thermal insulation, asbestos removal, correction of non-traditional construction techniques, and more rationally planned use of inner city areas.
Procurement
Contracts for the implementation of the project shall be tendered in accordance with the relevant EU procurement legislation (Dir 2004/18 and/or 2004/17/EEC), with parallel publication of tender notices in the EU Official Journal, as and where appropriate.
Status
Signed - 21/03/2005