Section: Housing Provision

Swale council proposes new housing company

Posted 29.10.20
Swale BCl: Further reading

Swale Borough Council is proposing to set up a housing company to help deliver affordable homes for local people.

A report to its cabinet proposes setting up a local housing company to increase the supply of affordable homes in the borough, without placing a financial burden on the council.

The report proposes that council-owned land would be transferred to the company to provide around 139 new properties, in exchange for an equity share in the company.

Ben J Martin, cabinet member for housing at the council, said:

"The prospect of setting up of a housing company is a key indicator of the high priority we place on delivering decent affordable housing residents need.

"It would also give us control of the density, location, environmental standards and management of any scheme, so we won't be at the mercy of developers trying to maximise profit.

"By owning equity shares in the company, we can get an income stream on assets that should go up in value over time, which reduces the financial risk to the council.


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Reporting on October 2020

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