Cambridgeshire and Peterborough makes two-year loan for Haddenham site
0Cambridgeshire and Peterborough Combined Authority has lent £6.5m to East Cambs Trading Company (ECTC) to help fund a housing project in Haddenham.
The loan will be repaid after two years.
Roger Thompson, director of housing and development said: “This is a milestone for the combined authority as it is the first agreement exchanged for developing and supporting the delivery of affordable and private housing that ‘recycles the funding’, rather than the more traditional grant-form of funding.”
ECTC is wholly owned by the authority and is run on an arm’s length basis.
The site at Haddenham will have 54 houses of which 19 will be affordable homes.
Upon completion the affordable units will be transferred to Haddenham Community Land Trust which will manage them, ensuring that they are retained as affordable housing for local people.
