Midlothian Council has agreed to invest £16m in building 100 new local authority homes.
The investment was agreed at a recent full council meeting with the money coming from the Housing Revenue Account.
‘It makes financial sense to use the money from the Housing Revenue Account rather than taking on additional borrowing, thus avoiding incurring extra costs such as interest payments,’ said Midlothian’s cabinet member with responsibility for housing, Cllr Stephen Curran.
‘This is a further major investment that will help support economic recovery in Midlothian as well as addressing housing need.
‘As outlined in Midlothian’s route map through and out of the COVID-19 pandemic, our focus is on creating a greener, safer and sustainable Midlothian underpinned by a “Wellbeing Economy” where people and the environment prosper.’
The council’s route map includes a £153m investment in capital projects rising to £321m for future years.
Initiatives will include additional council housing, like the 100 homes being purchased, which will, whenever possible, be located close to good community facilities and shops.
According to the local authority, developments will be of high quality, balancing good contemporary design with respect for the area’s heritage.
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