£1.5 Billion Investment in Lincoln Council Housing on the Verge of Approval
The City of Lincoln Council is set to approve a colossal investment of £1.5 billion into local council homes. This move comes as part of a 30-year scheme to construct top-quality new homes, with the business plan slated for discussion at an Executive meeting on the 20th of November.
Council Homes - A Significant Portion of Lincoln's Housing
There are currently about 7,800 council homes within the city, forming approximately 20% of all residential properties in Lincoln. This composition includes 3,513 houses, 3,008 flats, 547 bungalows, 259 maisonettes, six bedsits and 467 homes for older individuals.
"The city council has been providing much needed affordable homes for the people of Lincoln since 1920," said Councillor Donald Nannestad, portfolio holder for quality housing at City of Lincoln Council. He further emphasised the council's dedication to providing good quality, affordable housing.
Investing in Quality and Sustainability
The council's 30-year plan pledges over £1.5 billion directly into Lincoln's council homes. These investments are intended for the construction of high-quality new homes and for significant upgrades to existing stock. Councillor Nannestad explained that this considerable investment will not only benefit Lincoln's residents, but also have a direct positive impact on the local economy by providing jobs.
"Much of this significant investment will be of direct benefit to the local economy, providing jobs to local people, while also providing much needed high quality homes that meet the varied needs of all our residents," Nannestad stated.
The Four Pillars of the Council's Plan
The business plan for the development of council housing over the next three decades will be geared towards four main objectives:
- Improving core housing services, with an aim to rank among the top performing social landlords in terms of services like repair and caretaking.
- Building, acquiring and fostering the development of an additional 1,700 affordable homes within the city.
- Regenerating estates to tackle issues such as parking, crime and anti-social behaviour.
- Reducing carbon footprint and creating homes that are inexpensively managed. The council aims to have all homes reach an energy performance rating of C by 2030 as part of their decarbonisation initiative.
The business plan is set to be discussed at a meeting in City Hall, Lincoln, at 6pm on Monday, November 20th.