After a council meeting yesterday (Aug 25), Midlothian Council has confirmed that £16m of funding is to be spent on buying approximately 100 homes from developers, in order for them to be turned into council housing.
Midlothian Council’s Cabinet Member with responsibility for housing, Councillor Stephen Curran, said:
“It makes financial sense to use the money from the Housing Revenue Account rather than taking on additional borrowing, thus avoiding incurring extra costs such as interest payments.
“This is a further major investment that will help support economic recovery in Midlothian as well as addressing housing need.”
Midlothian Council’s route map through and out of the coronavirus pandemic includes a £153m investment into capital projects that will include purchasing more council housing over the coming years.
The council aims to locate the social housing in established communities with easy access to shop and amenities.
Council Leader, Councillor Derek Milligan, said:
“This document is a renewal plan for Midlothian. It sets out how the council intends to work with its partners and communities to put the necessary changes in place to help us recover from the pandemic and to meet the huge challenges we now face.
“Without underestimating the scale of the task ahead, our plan is one firmly founded on hope, ambition and the promise of a better future.”