‘A celebration of success’ is how Councillor Peter Chowney described the way in which Hastings Borough Council (HBC) manages its finances. Mr Chowney was speaking at the meeting of HBC’s ruling cabinet on Monday night as members reviewed the mid-year treasury management report. Peter Grace, the council’s Assistant Director Financial Services and Revenues told members it […]
Later today councillors on Hastings Borough Council’s (HBC) cabinet will be asked to give the go ahead to spending another £166,000 on the renovation of York Buildings to cover unforeseen costs. It’s the second time councillors have upped the budget for the project having increased it from £757,000 to £846,000 in September 2019. If tonight’s […]
Self-congratulations was in the air on Tuesday night as the senior members of Hastings Borough Council (HBC) met in cabinet to review the authority’s financial strategy. Under discussion was the council’s financial performance as members reviewed the Treasury Management Report. Chief Finance Officer Peter Grace told the meeting the council’s financial strategies had worked well. […]
Debt fuelled acquisition of commercial property by the borough council might be a thing of the past in Hastings. Tonight members of Hastings Borough Council’s cabinet will hear that a government consultation that ended in July is expected to put an end to councils being able to borrow from the Public Works Loan Board (PWLB) […]
‘I am not sure that when residents pay their council tax they understand they are shareholders in a commercial property investment company.’ One of the most read stories on Hastings In Focus this week has been the threat of closure that is once again hanging over Debenhams. It’s a sign of the times and a […]
The fragile nature of the commercial property market was laid bare yesterday when a number of high-profile, high street names called in administrators. Among those was the Harveys furniture group. While there is no Harveys store in Hastings its subsidiary Bensons for Beds is a tenant of Hastings Borough Council in Bexhill Road. The chain, […]
Why the collapse of one of the UK’s biggest property companies should ring warning bells in Muriel Matters House… Two years ago Hastings Borough Council’s (HBC) rush to invest in commercial property was described as a ‘ticking time bomb of over extended borrowing’. In the two years since, many voices both local and national have […]
Plans for development of the Harold Place site where the toilets once stood is an example of “local government at its worst” according to Rob Lee who leads the opposition Conservative group on Hastings Borough Council (HBC). Tonight councillors are set to approve a plan that would see HBC borrow the cash required to convert […]
The property market can bring big rewards but there are big risks too and there are plenty of people in Hastings still unaware that their council has borrowed tens of millions of pounds to be repaid by local council-tax payers over the next 50 years. Do Hastings Borough Council’s figures add up and are it’s […]
