Housing associations may be able to access European funding streams for sustainable regeneration projects.
European Structural and Investment Funds (ESIF) finance projects aimed at innovation, research and development, SMEs, employment skills, social inclusion and carbon reduction. They include the physical regeneration-focused European Regional Development Funding (ERDF) and the more people-focused European Social Fund (ESF). Housing associations are well placed to deliver both.
The ERDF is managed by the Department for Communities and Local Government, and the ESF is managed by the Department for Work and Pensions.
What about the vote to leave the EU?
Until the two-year Article 50 exit process has been completed, the UK remains a full Member State of the European Union. This means that in legal terms, access to European funds is unchanged.
Most European funding is channelled through the UK Government. Chancellor Philip Hammond has committed that the Government will guarantee the finance on all European funding deals up to 2020.
UK access to EU funding outside these commitments remains uncertain. The Federation, along with many other organisations, is seeking clarity from the Government about the availability of funding after the UK has formally left the EU.