The funding was confirmed in a letter to the council from the Homes and Communities Agency (HCA).
Cllr Seán Woodward, leader of Fareham Borough Council, said: “The funding received can be used to progress the council's Welborne delivery strategy to help bring forward the garden village proposal, and this is something we are very much focused on so we can provide much-needed homes and jobs for our residents and their families.
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“Additionally, going forward, 'garden village' status gives us priority access to a wide range of funding streams designed to help support the delivery of new homes and supporting infrastructure, and hence expedite the delivery of Welborne."
The council is one of 30 local authorities selected to deliver new starter homes with the HCA, which will be built exclusively for first-time buyers aged 23-40 and available for at least 20% below market value.