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Millions in loans will fund care homes plan
It’s just like a mortgage, says social services chief
CAMDEN’S social services chief has admitted the Town Hall plans to borrow millions of pounds to keep its massive revamp of old people’s homes in the borough on track.
Conservative councillor Martin Davies said the loan arrangements under a “prudential borrowing” scheme were as simple as mortgaging a house and would only be taken on at special rates reserved for local authorities. He rejected the suggestion that the council could be trapped by “high finance” rates.
The council wants to build two care homes in Gospel Oak and plans to sell off existing homes to pay for them.
Old people’s homes at Branch Hill and St Margaret’s in Hampstead and Ingestre Road in Kentish Town are to be put up for sale, but can’t be sold until a completely new block at Maitland Park opens and residents have been transferred. The second new home will be built on the site of Wellesley House. While the council waits to sell the homes – it will raise significant funds from the sale of the Hampstead blocks, one of which is close to Hampstead Heath – Cllr Davies said the only option was to borrow the cash.
He added: “It is borrowing based on how the council is going to repay that money in the future We are not selling people’s homes. That is not what we are about. It is like taking a mortgage out on a house.”
Cllr Davies was speaking to pensioners at a meeting of the council’s elderly persons liaison group at Charlie Ratchford Resource Centre in Chalk Farm on Monday.
The centre, built in honour of former Labour mayor Charlie Ratchford, who died of cancer, also faces closure. It is likely to be rebuilt in Crogsland Road, also in Chalk Farm, with the current centre sold to developers.
Extra housing will be built above the new centre, although Cllr Davies has been warned that old people will not want to live so close to Haverstock School, especially since footballers have begun hiring out the outdoor pitches until 10pm.
At Monday’s meeting, Labour councillor Roger Robinson said that existing homes, rated too small for residents by the Town Hall, just needed refurbishment and should not be put on the market.
Charlie Ratchford – affectionately known as “Charlie’s” – needed an upgrade because of poor acoustics, a lack of meeting rooms and inadequate disabled access, officials said.
But Cllr Robinson replied: “A site like Charlie Ratchford in Chalk Farm is worth millions of quid but in the future it will be luxury flats or offices. I could get a surveyor in here today. He could have a plan to make this place more accessible within a week.”
Ex-mayor Barbara Hughes, now chairwoman of Age Concern Camden, said: “Extra care housing is a wonderful idea but I am still not sure about the money and how this is all going to be paid for.”
The plans for old people’s homes are now in the consultation stage. A private session was held with residents of Wellesley House on Sunday afternoon.
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