The minister said that the funding, to be allocated to 41 councils, would bring over 86,000 homes up to a decent living standard.
The government first announced the funding plans after the spending review in October 2010, but the allocation was provisional until now.
Prisk said that this new work would provide a shot in the arm for thousands of local businesses and tradesmen, supporting the Government’s measures to boost British jobs and the economy.
The industry has welcomed the cash but warned more substantive measures were needed to support the core of the construction industry.
Mike Leonard, director of the Modern Masonry Alliance, said: “This money for social home improvement will help to safeguard some jobs in manufacturing and contracting which is very welcome.
“It will not drive demand for core British-made building materials nor is it the size of stimulus the industry needs if we are to be the solution to jobs and growth.” He warned.
“We call upon the Government to fund and build an additional 25,000 Public Rented Homes and cut VAT to 5% on extensions for 12 months. We must now Get Britain Building.”
