Council to buy 48 affordable homes for £14.5m
LDRSA Surrey council is set to spend more than £14m on 48 more affordable homes to help ease its housing waiting lists.
Waverley Borough Council plans to acquire 40 properties at the Waverley Gardens development on Waverley Lane and a further eight homes at Farnham Oaks in Wrecclesham.
Council papers show £14,454,118 has been earmarked for the acquisitions, subject to approval by the West Surrey Shadow Executive, according to the Local Democracy Reporting Service.
Councillor Janet Crowe said: "Delivering decent and affordable homes is a key corporate priority of this council."
The authority said the scheme would be funded by combination of borrowing from its housing revenue accounts and the sale of assets.
The exact breakdown of the financing is still being kept private, the local authority said.
However, it expects these to be made public once the new properties are handed over to the council.
Crowe said: "The homes will be managed as part of the council's housing stock."
Councillor Kika Myrlees added: "This is great news, especially for Farnham because I know we struggle with all this."
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