South Cambs LibDems have spent taxpayers’ money on land for development in partnership with local developers.
The land at Cambourne Business Park being purchased for £12.9 million is expected to lead to around 275 new homes. Only 40% of these will be affordable housing (the minimum standard).
The residential site is the first purchase of many. Over the next four years, the Council is looking to spend and borrow up to £170 million with its investment partners.
Thursday's news is NOT welcomed by all of us and was opposed by our Conservative Group.
Cllr Heather Williams, leader of the opposition (Conservative):
"This is yet another step of the Lib Dem administration towards becoming developers for profit! While the Lib Dem’s mention affordable housing what they fail to tell you is that this 40% is what ANY developer would have to provide under the current local plan. If residents are to truly benefit from this then there should be well above the minimum number of affordable houses. Most of all this is a huge Gamble - a gamble of taxpayers money and ever increasing debt, nor will this help the “Lack of Trust” already identified in the planning process at South Cambs. For all our sakes lets hope this works because if it doesn’t the Council will be in a right mess both financially and reputationally."
On top of this, they have also bought yet another commercial property purchased just by South Cambridgeshire District Council.
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