At the Church Broughton Parish Council meeting of 6 May 2021, it was RESOLVED to seek the approval of the Secretary of State for Housing, Communities & Local Government to apply for a PWLB loan of up to £75,000 over the borrowing term of 16 years for part-funding of a bid to buy the Methodist Chapel and Schoolroom. The annual loan repayments will come to around £5,000.
It is intended to increase the council tax precept for the purpose of the loan repayments by £5,000 per year which, for a band D property, equates to a 64% increase or the equivalent of an additional £20 a year. This was the subject of a council tax precept increase consultation in February and March 2021.
The process of consultation and the application to seek approval to borrow have been carried out in line with applicable guidance notes issued by the Ministry of Housing, Communities and Local Government, with additional guidance from the Derbyshire Association of Local Councils. This is to ensure that all applicable legal requirements have been followed and that the proposal to borrow money is properly justified.
If you have any views or opinions you wish to feed in, please contact the Parish Council.