The government has extended the deadline for submitting bids for extra borrowing headroom through their housing revenue accounts until the end of the month.
The government is offering a total of £1bn in extra borrowing to councils in high demand areas to provide new homes.
Bids had originally been due by 7 September but the deadline has now been extended until the end of September.
Writing in an introduction to the prospectus, communities secretary James Brokenshire said: “This prospectus outlines a long-awaited chance for local authorities to show the government what can be achieved when money is there.
“I encourage local authorities to take a bold approach and seize this chance. Together we have an opportunity to deliver the homes our country so badly needs.”
