Bookmarked: Council to pay 30% of troubled PFI project

Leeds City Council is set to pay 30% of the total cost of the persistently delayed PFI housing project covering Beeston, Holbeck and Little London.

Holbeck Towers, in November 2010, prior to demolition to make way for the PFI regeneration project

South Leeds Life reported over a week ago that the council was due to step in with taxpayers’ money after one of the banks backing the estimated £180 million scheme pulled out. On-site work to build 388 new homes and refurbish over 1,200 in Little London, Beeston Hill and Holbeck could now start in November.

The YEP yesterday reported that senior councillors voted unanimously to step in and provide 30 per cent of the funding, to be taken from their Housing Revenue Account reserves, to ensure the troubled project goes ahead.

Full story over at the YEP.