Council to buy 86 “unwanted” affordable homes in town?
EDEN Council’s new commercial company could buy 86 new affordable homes in Penrith — but the plan would involve a multi-million pound loan from council coffers to its Heart of Cumbria Ltd. enterprise.
The Tory-controlled executive wants to award its fledgling company a “few million” to snap up some “unwanted” affordable homes to be built in a development at Carleton Meadows.
The scheme was hailed as a “golden opportunity” to tackle a perennial council issue, and supporters said more than 900 people in the district are waiting for social housing to rent.
But Liberal Democrat councillors cautioned against the council sinking millions of taxpayers’ cash, which could be lost in the event of a housing crash, into Heart of Cumbria.
Full story in Saturday's paper