Growing the Kent economy 2016/17

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Growing the Kent Economy 2016/17
have already recently introduced an
interest bearing loan product.
NUE would welcome the opportunity to
discuss future project ideas, which may
require some financial assistance over
a short term with owners of derelict
empty buildings.
NUE has been widely praised: the winner
of two national awards for partnership
working and it was “Highly Acclaimed”
at the LGC Awards in two categories
(Housing Initiative and Partnership
of the Year). The Welsh Government
has also based its Houses to Homes
initiative on Kent’s NUE Loan Scheme.
Further information can be found
at
An empty property is one that has
been inactive in the housing market
and has remained empty for more than
six months.
Since its inception, NUE has awarded
£15m in secured short-term interest
free loans levering in £22.8m from the
public/private sectors. This has brought
back into use 707 long term empty
properties and has helped create or
safeguarded over 700 jobs.
Average renovation cost to return a
unit to occupation is £53,200 with the
average KCC investment being £21,600.
For every £1 spent on administration,
£20 is being spent in the local economy.
More than £7.8m (58%) of funding
advanced has been repaid and recycled.
As well as returning empty homes into
use, NUE continues to be innovative.
We have also listened to small developers
who struggle with acquiring finance to
take forward projects, such as redundant
commercial sites with approved
planning permission for housing and
“An empty property is one that has been
inactive in the housing market and has
remained empty for more than six months.”
Prince of Wales, Dover