Wednesday, 21 November 2012

Flats Are Knocked Down As Plans for New Homes Are Cutback

The number of council houses planned to be built in Nottingham over the next five years has been cut. Nottingham City Homes and the city council announced plans last year to demolish 900 homes city and build 500. However, this has now been reduced to 350.  A spokesman for the organisation said: "We believed at that time that we'd probably be able to build 500. It was an aspirational figure.  What's happened is the figures have been worked out by the Government and they've squeezed the funding pot."
NCH is taking a long-term loan to pay for the houses, which will be paid off from rental income over the next 30 years.  Read more on the Nottingham Post website.

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