The process would be transparent, he said: "The new system requires annual reporting of income and expenditure, so local people and developers can see what money was spent on."
Clark also outlined details of the new homes bonus, following consultation on the funding scheme. He criticised the current system as costly and bureaucratic.
"Regional spatial strategies imposed housing targets from above, with the result that many communities felt disaffected," he said. "The South West consultation alone generated 35,000 written objections."