The chair of Douglas Council’s housing committee says older properties in the capital need major investment.
Councillor Claire Wells wants any schemes progressed by the authority to outlast the loans taken in order to pay for them.
At the council’s rate-setting meeting in January, she listed a number of ongoing projects for the year ahead, including the redevelopment of Willaston estate, the Spring Valley estate, and longer term plans for Lord Street.
£12 million in loans, supported by government’s deficiency payments, will be taken to fund housing work over the next financial year.
Mrs Wells says it’s vital these developments progress, to help cut down the council’s growing waiting lists.
The housing chair also announced a capital loan would be taken to pay for more major repair work needed on unoccupied properties, to bring them back online, whilst the maintenance budget would be kept for more minor repairs.