What's the cost?

PUBLISHED: 12:20 17 November 2006 | UPDATED: 22:22 28 May 2010

FENLAND council tenants are currently being asked to vote for or against the transfer of their homes to Roddons, a subsidiary of the huge Circle Anglia company, but apparently have not yet been given a crucial piece of information. How much will it cost t

FENLAND council tenants are currently being asked to vote for or against the transfer of their homes to Roddons, a subsidiary of the huge Circle Anglia company, but apparently have not yet been given a crucial piece of information. How much will it cost them?

There have been hints that the likely cost for Circle Anglia to buy the homes will be between £40-50million, but no-one seems willing to give an exact figure.

Don't they know? If not, how can they project a long-term business plan guaranteeing all the promises of improvements plus low rents?

Those improvements would not be a free gift - all the money Fenland Council and Circle Anglia proudly boast would be "levered in" would later have to be "levered out" again, plus interest, to repay massive bank loans.

The only source of cash for that is tenants'rents.

Tenants who value security and stability, and believe council housing has provided that over the years, should vote 'no' to transfer.

JOHN MARAIS

Fortescue Road

Cambridge

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