Plan for disabled centre in Ascot Way faces £350,000 financial hurdle

A report being presented to a Council meeting next week says that the cost to taxpayers of developing a Centre of Excellence for Disabled Children and their families in Ascot Way will be more than expected.

An additional £350,000 will have to be borrowed to finance the £4.3 million project.

This is mainly the result of a lower than expected valuation of The Glen Short Breaks centre which is to be sold to help pay for the new development.

When originally suggested, the expectation was that the Glen site would be sold for £1,250,000. It is this figure that has reduced and produced the funding shortfall.

Annual repayments (principal plus interest) on the borrowing are expected to be around £195,000 a year.

The news comes a day before an open meeting to discuss the project is being held at Windsor House (see below)

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