The Humber LEP’s Growth Deal will see 62,228 properties and 251,485 of commercial floorspace with reduced flood risk across the Humber.
Protecting the region from flooding is one the main priorities with almost £48m LGF secured.
Flood defences will be improved at Albert Dock in Hull, which was affected by the December 2013 tidal surge, using £3m Growth Deal money with work starting in 2015/16. The move will safeguard more than 3,000 jobs.
In Hull and Holderness £3m has been allocated to support flood protection work near the village of Paull and key development sites.
A further £28.3m will be invested in flood defences in Hull and the East Riding – Cottingham, Orchard Park, Anlaby and East Ella and around the River Hull – which will help to reduce the flood risk for 90 per cent of the homes flooded in 2007.
In North Lincolnshire £13.3m will be invested in a flood risk strategy to enable the 6,000-home Lincolnshire Lakes development and protect two existing villages.
The LEP has also negotiated for control over part of the national flooding budget to be devolved to the local area, giving long term certainty over funding and the potential to deliver more by driving efficiencies. This means priorities can be set locally working in partnership with the local authorities and statutory agencies.