London borough in promise to keep homes
A London borough has pledged not to sell off any of its council homes as part of a new community investment programme.
Camden Council will also offer ‘reassurances’ on security of tenure and rents for its tenants.
The council has pledged to deliver more than 850 new council and shared ownership family homes in addition to 1,200 private homes as part of the 15-year plan.
The programme will also see an investment of £119 million on repairing 10,000 existing council flats and £117 million on schools and children’s centres in the borough.
In total, more than 80 projects have been identified as part of the programme, with work due to start in the next five years.
The council has labelled the programme its own ‘plan B’ after it was forced to accept more than £200 million in funding cuts from central government. It will seek to redevelop and sell-off properties that are expensive to maintain or underused in order to fill the funding gap and finance the programme.