A mass regeneration scheme in South Oxhey is another step closer after the number of potential developers was cut again - but it has emerged the council has applied for government funding.

Just three developers are in the running for the South Oxhey Initiative after Three Rivers District Council officers cut the number of prospective developers from five to three.

Five bidders submitted a main bid before Christmas, which had to incorporate the financial, residential and retail aspects of the project and Alan Head, head of major projects at the council, confirmed all of these included provisions for 45 per cent affordable housing.

But all three shortlisted developers have also submitted "alternative" bids, which allows developers to suggest other ideas and officers will now assess these bids.

Elected representatives will be invited to see the plans for the centre of the estate on Friday, April 10.

Council finance papers indicate the authority has applied to the Local Growth Fund for a grant of £2 million for the project.

The report adds: "The department for Business, Innovation and Skills are unsure when a final decision will be made about whether they accept this grant application".

Mr Head told the South Oxhey Steering Committee meeting on Monday night: "Members will appreciate this is a highly confidential process.

"But what I can say is the bids we have received are encouraging and look as if we have a really strong interest from bidders in the project and the final bids should bring forward some strong results."

The plans for the regeneration of the estate will be confirmed in May.

However, Councillor Stephen Cox, representative for South Oxhey, clashed with Mr Head, over whether elected representatives in South Oxhey would be told who was in the running.

Councillor Cox told the meeting: "Are we going to be told the names of the three bidders?

"My concern stems from the fact I have been on an on-going crusade and I know this was not the intended idea, but there has been a reasonable amount of information that has been retained in part two, [Confidential information that is not released to the public] which should have been in Part One [Information made public].

"I know one cannot reveal the names of the bidders, but as a councillor for South Oxhey, I find it quite bizarre that I have to wait until April 10 before these people magic themselves in front of me."

But Mr Head replied: "It is normal in this process that we do not reveal the names of the bidders.

"On the assumption all three of the shortlisted bidders make it to the end of the final bid stage, each one of them will be asked to present themselves for an interview.

"All three of them are well known names in the regeneration industry. There is nothing in there you would be alarmed at."

A letter will be sent out to affected residents explaining the timetable for the mass-regeneration project.

The authority's finance papers indicate that while the "council is currently debt free" a "major project in South Oxhey may require significant funding and involve borrowing funds".