One Public Estate, a government initiative set up to help local authorities streamline their property portfolios, is to receive an extra £31m for the third phase of its programme.
The cabinet office scheme launched in 2013 enables local councils and other public sector organisations to share buildings and services, reduce running costs and release land to boost development.
So far 32 councils have worked with the LGA and cabinet office to manage assets that are expected to deliver £129m in property sales and 90,000 new homes, with expected savings of £77m in running costs for the public sector over five years.
The £31m of additional funding will be used to help expand the programme and look to support ambitious projects that have significant economic benefits or service transformation.
More than 100 councils have signed up for the third phase of the programme as part of 24 partnerships between local authorities and other public sector organisations.
Funding allocations of up to £470,000 have been announced for each partnership.
LGA Chairman, Lord Porter, said: “Through One Public Estate, councils have shown that they are perfectly placed to act as leaders of place and deliver effective cross public sector asset management.”
He added: “I’d like to see all councils signed up by 2018 to drive growth in their areas through the strong local leadership that we’ve already seen in the early phases of the programme.”
