What’s the cost?
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.
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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.
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