The latest on the 100 new council homes!

The latest on the 100 new council homes!

ANGER

New Council House Build.  The Council was successful in its bid, under the Governments LGF scheme, for an increase in its debt cap specifically to help fund the building of 100 new Council homes.  The new Council housing will form part of the larger development Dallington Grange Sustainable Urban Extension comprising of a total site capacity of 3,000 – 3,500 dwellings, plus employment, community/educational and open space.  The increase in debt cap awarded was £8.6m, ( £600k for the current year and £8m for 2016/17) which allows the Council to borrow specifically for this project. The costs and borrowing for this project are forecast to be covered over the life of the project by the rental streams generated by affordable rents.

Work is ongoing, directed via the New Council House Board as the scheme work streams progress.

Cabinet have previously approved the expenditure for the New Council House Build of 100 homes at Dallington based on the successful LGF bid for an increase in the HRA borrowing cap.  Cabinet will be updated via further report/s in due course.

 

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