The government鈥檚 housing agency will plough 拢7.5m into new homes in Norwich as part of a deal with the city鈥檚 council

The Homes and Communities Agency will put the money into sites it will jointly develop with the local authority.

The schemes, which should produce 1,300 new affordable and private homes, could make a surplus of 拢60-80m over 12 years which will be reinvested in other regeneration schemes in the city.

Steve Morphew, leader of Norwich council, said: 鈥淭his is a historic partnership between two public sector organisations that will use public assets and lever in private money. The money and profits is a stunning shot in the arm for the city.鈥�

The organisations involved in the deal will sign contracts on specific sites in the city by early autumn 2009.  

The deal is one of the first done through the agency鈥檚 鈥渟ingle conversation鈥� process of tailored investment agreements between local authorities and the agency.

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