The fund aims to help councils and third sector bodies in areas of high housing need plan for new homes and infrastructure. It was first announced as part of the housing white paper in February this year,
As well as help to boost skills and capacity, the fund places a focus on design innovation.
Housing and planning minister Alok Sharma said: “By supporting our local authorities, we will be able to unlock more homes where people want to live.”
He said as well as “high-quality well-designed homes”, the fund would help bring in jobs, facilities and a local economic boost.
Bids are invited for the current financial year and next year from three funding streams: a joint working fund, a design quality fund and an innovation fund.
Alongside bidding details, the government announced an additional £3m to support the 14 garden villages that are in development across England. The funding will pay for dedicated staff and studies.
A consultation on creating new town development corporations was also released and runs until 2 January 2018.
It proposes a shift in the oversight of building new towns from the secretary of state to councils or other local bodies.
