Swale council considers borrowing £10 million to help provide more affordable housing
Published: 06:00, 01 January 2020
A huge investment of £10 million to help provide more affordable housing and tackle homelessness is being considered by Swale council.
Members of the cabinet met at Swale House on Wednesday, December 18, to discuss the proposals.
The new coalition in charge of the council has made delivering more affordable homes in Sittingbourne, Faversham and on Sheppey one of its top priorities.
It adopted a Housing, Homelessness and Rough Sleeping Strategy in July.
To meet its aims, the council has proposed £10m could be borrowed to support affordable housing initiatives.
The report said: “Adding to the supply of affordable housing is critical.
“One route is through the planning process and the other is through direct intervention, most likely with established registered providers.”
Council leader, Cllr Roger Truelove (Lab) said borrowing was being considered because the housing is urgently needed.
He added: “We are preparing to increase the capital budget to support the much-needed building of social and affordable housing in the borough.
“Whilst higher cost market-led housing is being forced on us by the Government, many local people are desperate for housing for rent and housing to buy for first-time buyers.
“We are therefore prepared to make a provisional allowance of up to £10 million of capital borrowing to facilitate the building of much-needed homes.”
Cllr Truelove added that the amount being considered showed how much the council wants to tackle the problem.
'This is a serious commitment but it dwarfs the borrowing that has already been made for the Sittingbourne town centre' - Cllr Roger Truelove (Lab)
“This is a serious commitment but it dwarfs the borrowing that has already been made for the Sittingbourne town centre,” he added.
Cabinet member for housing, Cllr Ben J Martin (Lib Dem) said: “This is very much welcome and is indicative of the coalition administration’s commitment to ensuring we get the affordable housing we so desperately need in Swale.
“We currently have 209 households that will be spending Christmas in temporary accommodation and over 6,000 people on the housing waiting list.
“This is a sad reflection of the housing crisis we face as a local authority and as a nation.
“This borrowing facility will open the door to the council intervening in the local housing market to ensure delivery of truly affordable housing for local residents in need.”
Another four jobs will be created in the council’s Housing Options Team to focus on preventing homelessness.
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Ellis Stephenson