£18.8m loan for 200 Scottish Borders homes

COUNCILLORS are expected to give the go-ahead today, Thursday, for up to £18.8million to be borrowed to provide 200 affordable homes across the Borders, writes Adam Drummond.

A final business case for the Affordable Housing Investment Programme has been produced after councillors agreed in June for the plans to be progressed.

Up to 200 mid-market homes for rent could be made available under the scheme, through purchase of existing homes and new builds.

Should the council be given the green light from both its own members and the Scottish Government for the borrowing, a limited liability partnership will be established to deliver the homes.

The aim is to have them in place within four years.

Councillors will also be asked to approve the use of more than £3million of second homes council tax to help cover land acquisition costs.