The funding was secured from the Scottish Government through the Affordable Housing Supply Programme.
As a result of the extra monies, Fife Council's Executive Committee also agreed to bring forward seven additional projects.
Plans for another 144 affordable homes will now be added to Fife's Strategic Local Programme and includes properties being delivered by Fife Council and Kingdom Housing Association in Strathkiness, Glenrothes, Coaltown of Balgonie, Lochgelly, Dunfermline and Leven.
Derek Muir, Head of Housing and Neighbourhood Services, said: "A total of 782 homes in the Programme are now supported by Scottish Government funding and contribute to the Council’s target of having 2700 new affordable homes by 2017 in the areas of greatest need. Subject to planning permission, work could start on some of these newly confirmed sites in this financial year.
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"We are working towards delivering these new houses in a range of ways and a separate report was also agreed at today’s Committee which agreed to look into proposals to purchase a development of 21 flats in Dunfermline from Barratt Homes as well as the transfer of land in Largoward and Glenrothes to Fife Housing Association Alliance to build affordable housing on.
"Since the target was set good progress has been made. 313 homes have been built and a further 195 are in development. Work is also underway to options for the future design and build of one bedroomed properties.
"We have systems in place to prioritise the use of every penny we have to ensure that we build or help deliver new homes in priority areas. However, we’re also carrying out further work to find out how the impact of the UK Government’s Welfare Reform changes and changing demographics impact on our current information of where we need affordable homes for Fifers."
(JP/CD)
