News Roundup: LOBO information, Ealing credit balances, estate renewal, £2bn JV search
0Another council ordered to release LOBO details
The Information Commissioner has ruled that another local authority should reveal details of is Lender Option Borrower Option (LOBO) loans. It said that London Borough of Kingston Upon Thames had incorrectly withheld details of its loans in response to freedom of information requests by campaign group Debt Resistance UK. The ruling comes after similar decisions relating to Cornwall Council and Swansea City in November and December.
Ealing forced to reveal credit information
Meanwhile the commissioner has also ordered Ealing Council to provide details of credit balances owed to ratepayers. The council turned down a Freedom of Information Act request for the information, saying it could lead to fraud and would be a breach of confidence. However, the Information Commissioner has ruled that the council incorrectly applied exemptions to the act and ordered it to release the information.
Cameron launches estate renewal drive
Money from pension funds could be used to help regenerate council housing estates, according to the prime minister. David Cameron has announced that the government will work to regenerate 100 housing estates across the country. A nationwide strategy will be supported by a new Estate Regeneration Advisory Panel, which will be chaired by Lord Heseltine, the former deputy prime minister.
Haringey seeks JV partner for property vehicle
A strategic investment and development partner is being sought by the London Borough of Haringey for a £2bn property joint venture. The Haringey Development Vehicle is aimed at renewing estates and regenerating brownfield sites to promote jobs and create 5,000 homes on land in its ownership. The council will transfer sites into the vehicle which it said would likely be owned 50:50 with the successful bidder.
Wandsworth looks to undertake regeneration with private sector
Across London, Wandsworth Council is seeking a joint venture partner to deliver a £900m regeneration scheme. The council wants to demolish and rebuild homes at two existing estates covering 13ha north of Clapham Junction rail station, alongside leisure, commercial and community uses. Council tenants and owner occupiers will be offered new homes in the development, the council said.
