In Wednesday's Planning, Environment and Development Committee meeting Members will be recommended to note the considerable progress being made in the development of both the Housing and the Event elements of Scotland’s Housing Expo which is scheduled to take place at Balvonie Braes, Inverness for the month of August 2010. There are 55 houses and flats on 27 plots which were designed by 22 architectural practices.
Five contractors have formed a Joint Venture company – known as the
Highland Construction Consortium Ltd. to act as principal contractor on site for the Highland Housing Fair. They have evolved common site management rules and each is contributing site
manager resources to jointly manage the whole site. They are:
William Gray Construction Ltd.
Tulloch Homes Express
O’ Brien Properties
Robertson Highland
Morrison Construction
The contractors themselves are building 8 houses for sale. Highland Housing Alliance have commissioned the remaining 24 private houses on the site with the financing of this being provided by a loan from the Royal Bank of Scotland which is being underwritten by the Scottish Government.
The report to Committee states:
There are currently no further financial implications for the Highland Council for the rescheduled 2010 Scotland’s Housing Expo Event. Should the event not proceed the Expo Company would be liquidated with any outstanding debts being met from public sector resources, including the Highland Council.
If the private houses are not built to budget and there are cost over-runs or if they fail to achieve their projected selling price, the financial risk will be borne by the Highland Housing Alliance in the first instance. Ultimately part of this could fall against the £1.4m loan for the site purchase and servicing provided from the Council’s £10m Land Bank Fund (£5m of which came from the Scottish Government).
Update:
I have just been sent this link by a contact:
"Taxpayers may Face Housing Expo Bill"
See P and J at link above
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