Egbert Posted May 16, 2013 Report Share Posted May 16, 2013 So the council is to loan £30 million to a housing association which can, if it wishes, use some of the money to build houses outside the borough. The story on the front page suggests that the housing association is unlikely to actually do this - but I wonder if we will be told if it does? And how can our cash-strapped council loan money to anyone? Quote Link to comment Share on other sites More sharing options...
Nick Tessla Posted May 16, 2013 Report Share Posted May 16, 2013 They, apparently, have funds to spend on PR friendly activities * and councillors' vanity projects but not to mend potholes. I know some weary willy will be looking to explain the difference between revenue and capital budgets or whatever - but then the divvies at the Town Hall need to set those budgets better. * or what they perceive as PR friendly - I'm not alleging hey are competent at doing so. Quote Link to comment Share on other sites More sharing options...
observer Posted May 16, 2013 Report Share Posted May 16, 2013 Just a pity they have to employ this convoluted method of investing in social house building - such housing is certainly needed. Quote Link to comment Share on other sites More sharing options...
Bazj Posted May 17, 2013 Report Share Posted May 17, 2013 disgusting and disgraceful. The council should not be lending money to private companies when they are cutting services to the needy and as has been said; not fixing the car destroying potholes Quote Link to comment Share on other sites More sharing options...
observer Posted May 17, 2013 Report Share Posted May 17, 2013 Beats lending to RL clubs though ! Quote Link to comment Share on other sites More sharing options...
fugtifino Posted May 18, 2013 Report Share Posted May 18, 2013 So, how many "Housing Association Units" does £30m get you? If the answer's a good one, then I don't see much wrong with it really. Just a pity they have to employ this convoluted method of investing in social house building - such housing is certainly needed. Agreed. Quote Link to comment Share on other sites More sharing options...
Bazj Posted May 18, 2013 Report Share Posted May 18, 2013 I had no say when they bailed out the rugby club and I'll no doubt have no say when they fund this little exercise...... I would however like the councillors to pay for looking after our towns old folks and to repair the roads that people need to get to and from work so we can earn money to pay their allowances.... I did not vote for a bunch of lefty labourites to give my hard earned money away to private companies.... This should not be allowed Quote Link to comment Share on other sites More sharing options...
inky pete Posted May 18, 2013 Report Share Posted May 18, 2013 No detail on what rate of interest is being charged on this loan - or what assets it is to be secured against. What happens if this company goes bust? Has the council even carried out due diligence and investigated the financial stability of a company that they are about to hand over such a huge sum of our money over to? 1 Quote Link to comment Share on other sites More sharing options...
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