The £6.97m funding which has been given the green light is part of an early investment offered to the East Midlands area as part of devolution negotiations. It is not dependent on devolution proposals going ahead.
It is part of £18m on offer from the Government to the region for investment in different projects supporting local priorities, which relate to housing, the environment, infrastructure, skills, and transport in Derbyshire, Nottinghamshire, Derby, and Nottingham
The programmes which are being funded in Derby are:
• £1m for a new long-term private rental scheme to address homelessness in Derby City and reduce the use of bed and breakfast accommodation for housing. The scheme will see six new properties purchased in the city. The properties will be used as a stepping stone for those on their journey to a permanent living situation. The reduced use of B&B will save £123.3k over five years.
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• £1.22m for more affordable housing in Derby. 15 new homes will be built at four sites in the city, helping to reduce the shortage of affordable housing in Derby. The new homes include 10 two-bedroom houses, a three-bedroom bungalow and four, four-bedroom homes. The construction is expected to be completed by September this year.
Other regeneration and net-zero projects are also in the pipeline, with decisions on these expected soon.
Derbyshire County Council, Nottinghamshire County Council, Derby City Council and Nottingham City Council have been working with the Government on devolution plans including a package of local powers and funding worth £1.14 billion, from 2024. If the plans go ahead, it would also mean a new regional mayor.
The leaders of the four councils signed up to work on a devolution deal on 30 August this year at Rolls Royce in Derby. Since August, the councils have developed a more detailed proposal, which includes more information about how devolution would work in our area. The proposal was the subject of a public consultation, which took place from 14 November 2022 to 9 January 2023.
Chris Poulter, Leader of Derby City Council, said: "We want to make the most of every penny so this can be used to make a real difference to people’s lives, and the approval of these projects is just the start of bringing that to fruition.
"The East Midlands has long been overlooked in terms of funding. This deal can offer Derby and our wider region real opportunities for much needed investment, which we are starting to see already."
