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Housing Associations (Site Sales)

Volume 928: debated on Monday 21 March 1977

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asked the Secretary of State for the Environment how many housing sites are being put up for sale by housing associations because of lack of funds for their development; and if he will publish a list of such projects, the cost of acquisition of each site, the capital sum denied for each development, the estimated loss on each resale and the extent to which public money will be required to make good each such loss.

On 19th Novembe I gave the House full details of the 27 Housing Corporation projects, which were cancelled as part of the July 1976 public expenditure savings. The projects were chosen by the corporation, in full consultation with the Department, because they represented lower priorities than new projects now being approved in areas of housing stress. We do not yet know the exact loss which will be incurred on the resale of each site, or on abortive fees, but the total loss, which will fall upon public funds, is estimated to be about £4 million, as against a saving of £34 million estimated total cost of the schemes had they proceeded.