Otterpool Park Update: The Council grants itself £100,000,000.

Updated 19:15 (21/11/19) It took 49 minutes for the request for the facility to draw down £100 million to be debated and finally agreed at last night’s full Council. The vote was fifteen for the recommendations; ten against, and one abstention. Cllr Tim Prater (Lib Dem) voted with the Tories; as did Cllr Rebecca Shoob (Green), and Cllr John Wing (Green) one of the District Cllrs for Hythe Rural Ward; which includes Lympne, abstained. The Shepway Green Party are opposed to Otterpool Park, allegedly.   Cllr Prater has previously said of Otterpool Park “It feels like the prime motivation for this development is to generate millions of pounds for Shepway District Council rather than to meet the genuine housing needs of Shepway people thereby making this a case of ‘profit before people’. The £100,000,000 will more likely than not come from the Public Works Loan Board (PWLB), which issues loans to local authorities. PWLB loans rose by 1%, in Oct 2019, meaning the Council will now borrow at a higher rate of interest. The council state they would not borrow in advance of need, as such it is not proposed that the council would borrow £100 million immediately.  Report Number … Continue reading Otterpool Park Update: The Council grants itself £100,000,000.