Thursday, 19 July 2018

New Council Homes Cost £627,000 More Than Expected


A new housing scheme funded by Nottingham City Council has gone way over budget, and new funds have had to be spent to meet the shortfall. Back in 2014, the Council approved funding for 55 new homes, at a cost of £5.915 million. However the total cost of the scheme has ended up at £6.542 million - £627,000 more than originally planned for. The scheme to build 46 houses and nine bungalows was managed by Nottingham City Homes. A council report into the issue said: “This scheme is one of a number of new build schemes delivered by Nottingham City Homes where cost have exceeded the approved budget. In future improvements in budget setting and monitoring are needed to ensure that increased costs are approved in advance. The impact on viability needs to be checked before significant additional costs are committed to.” Read more on the Nottingham Post website.

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