Over the course of this year, PFI grants will be distributed to various local authorities.
According to the Department for Communities and Local Government, these grants will be used to refurbish council housing, aid the construction of council and housing association buildings, renew neighborhoods and regenerate estates.
So which local authorities will be receiving the most in PFI grants in 2015-2016?
You can also see the data visualised on our interactive map. Click here or on the image below. Then click on the red dots to see the individual figures for local authorities.
Leeds is leading the way with the amount of PFI grants to come, with £26,055,309. In 2013, a £180 million PFI project to build 388 new council homes in Leeds was dogged with delays and funding issues.
Let’s hope that these funds are used more wisely.
Manchester follows, picking up a cheque for £23,700,068 PFI special grants. In 2014, a Manchester regeneration scheme became the latest housing private finance initiative to use a wrapped bond issue.
The Special purpose vehicle Solutions 4 Brunswick (S4B) secured £73.5m through a 24-year bond, backed by a private guarantee.
London Borough of Islington
Islington council will be receiving £22,854,902; substantially more than the other London councils.
Partners for Improvement in Islington manages 4,500 tenanted houses and 2,000 leasehold properties on behalf of the council. The company has been dogged with complaints of mismanagement and of leaving housing in disrepair.
London Borough of Lewisham
Lewisham council follows, but it trails behind Islington with £10,353,146; less than half the funds.
Leaseholders in Lewisham have been battling to view a PFI contract between the council and Regenter B3 which was signed in 2007. Residents have complained of damp and mould in their homes.
Get the full data here
Do you have any experiences of PFI housing in your local authority?