April 17, 2007
Book building plans take a twist
Councillors have put a temporary halt on plans to create a £2.5m social enterprise near
Book building plans take a twist
BBC
16.04.07
Councillors have put a temporary halt on plans to create a £2.5m social enterprise near
The development hinges on the council gifting the former TC Farries building to a non-profit organisation for £1.
The planning and environment committee had agreed the transfer despite hearing the property could have fetched more than £600,000 on the open market.
However, 12 councillors have now signed a motion which will force the issue back to full council on 26 April.
‘Boost business’
It was hoped the enterprise plan would create a community-owned company to boost business in the area.
The plan was to provide a number of lettable workspaces in the building with surplus rental income being used to support new social economy projects and generate employment.
It was thought the project would provide an opportunity to lever in significant sums of cash to support neighbourhood renewal activities.
Now it faces a delay until at least the end of the month before it can progress.