Housing Update - September 2024

Following on from our announcement in the May newsletter that we had been awarded a grant from Crown Estates to fund a Housing Project Officer, MCDC are delighted to announce that they have appointed Isla Robertson to the role. Isla will be responsible for pushing forward the next phase of the Phase 2 Housing project—the building of ten family homes. She is excited to take on the challenge and will be working closely with the Project Officer and the MCDC Housing Sub-Group to move this project through the next phase including securing the finance to get the project nearer completion. 

In other housing news, during the MCDC board meeting in May, a decision was taken to pay off the remaining loans for the building of Miner’s Court. Angus Robertson, chair of MCDC commented that: “MCDC's  20 year mortgage, from Triodos bank, stood at a little over £50,000. Interest on this variable rate loan was based on a margin of 4% over base rate. The board reviewed our options and decided that investing some of the profits received from the Barr hydro scheme this year to repay this mortgage early, represented the best investment that MCDC could make.  Saving the monthly interest and capital repayments, will allow us to do more of the things we want to do for the community in the coming months and years."