In 2014, Cabinet approved a potential pipeline of £25m to deliver new affordable housing in the borough. The fees above will be paid using this pipeline of funding. Each development will however be expected to repay this money back to the Council over a number of years.
Whilst this approach does require significant investment by the Council at this initial stage, not only will the developments pay back this money but by building new homes in this way, we avoid paying the 15% to 20% profit margin that a private developer would require.
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