The second round of applications for the Island Infrastructure Scheme (IIS) has opened.
The IIS is designed to stimulate and accelerate the development of brownfield sites across the Island.
The scheme opened for the first round of applications from January 2023 to April 2023.
IIS
Similar to the initial phase, the IIS will provide financial assistance of up to 25% of eligible expenditure to developers, by way of a grant towards development projects which meet the criteria outlined in the Scheme guidance.
The aim for the second round is to encourage more residentially led developments, supporting Government’s ambition to have 1,000 additional homes occupied by the end of 2026.
Applications that demonstrate real economic opportunities and increase the vibrancy and social offering of the Island can be considered.
Applications
Planning approval has been granted for both the redevelopment of Villier’s Square and Lake Road, with another two projects from the first round going currently through the planning process.
Applications for the Scheme will open from July 1, 2024 until June 30, 2025.
Applications are prioritised and awarded on an assessment criteria, taking into account direct and indirect economic benefit together with social and public realm benefits.
Any offer of support under this Scheme is subject to the successful completion of any development, with funds only being made available following a final assessment of costs and viability with eligible costs excluding the cost of land and any Government fees and sums.
Further information about the Island Infrastructure Scheme is available here.
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