A ‘DEBT of honour’ to housing tenants has been repaid by a council which ‘borrowed’ more than £300,000.
This week Gravesham Council returned £313,520 to its housing fund, which it took out five years ago to develop Lord Street and Parrock Street in Gravesend. It will be used for improvements to the council’s housing stock, and council leader Councillor Mike Snelling said: “This represents what I have always considered a historic debt of honour to our tenants.”
The council repaid the money after receiving around £500,000 compensation from developer Barratt Homes following a legal dispute over the former Lord Street car park.
Barratt had bought the land from the council for £1.5m but gave it back for free in April, along with compensation, after failing to honour an agreement to build a block of 108 flats.
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