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Press Release

CAMDEN COUNCIL BIDS TO INCREASE INVESTMENT IN ITS HOMES

20 June 2006

Camden Council today announced it is bidding to be one of the first local authorities to test new ways of securing funding to help bring its housing stock up to the decent homes standard.

The council’s bid is outlined in a letter to Ruth Kelly MP, the Secretary of State for Communities and Local Government. The letter puts forward proposals to help secure extra funds including changes to financial arrangements to allow the council to borrow money. It follows an announcement earlier this month, where the Secretary of State said she wanted to work with the best performing councils to pilot new ways to increase investment in social housing.

In 2004 tenants voted to remain directly managed by Camden Council. Under the Government’s current borrowing and investment rules the council would not be able to bring all its homes up to standard by 2012. Cllr Naylor, Camden Council’s Executive Member for Housing, will discuss the plans with tenants and tenants’ groups as soon as the Government responds positively to the proposals.

Cllr Chris Naylor said: “One of our top priorities is to ensure that all our tenants have modern and decent homes. That’s going to require a huge investment and we are looking at all the options that exist to raise that money.”

“Part of that solution is to look at developing innovative funding arrangements allowing us to borrow the money we need to improve council tenants’ homes. However, we must make sure that what we try will work for tenants. We need to ensure that this goes hand in hand with work to make our services for tenants and leaseholders as good as they can be, and rents remain affordable for all.”

The letter from Camden Leader, Cllr Keith Moffitt and Deputy Leader, Cllr Andrew Marshall, outlines a number of options the council is keen to investigate. These include increased financial freedom to raise money to invest in its housing stock; involving tenants more in the running of their homes, partnerships with voluntary and independent housing developers to regenerate brownfield sites and provide extra housing, and pioneering environmentally friendly building techniques.



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Camden Council

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