A DECISION to throw hundreds of thousands of pounds into the kitty to fund a huge regeneration project at Pleasley Hill is due to be rubber stamped today.
Plans are in place to demolish a housing estate of 160 homes at the site and replace them with modern, energy efficient homes, including affordable housing.
Demolition work which signalled the first stage of the £1 million began in November last year with the felling of an old church.
Yesterday, a delegated decision was made by Mansfield District Council portfolio holder for resources to re-allocate £680,000 of funding to the project after a projected underspend of £979,000 in a redevelopment project at the Brownlow Road estate, Mansfield.
Another £60,000 of funding will be allocated from the council’s Housing Revenue Account.
Further funding for the Pleasley Hill project will be sought through the sale of land to private developers.
Not-for-profit housing specialists Meden Valley Making Places are the organisation in charge of the project. Part of their work includes finding current residents a new home.
It says compensation packages are being offered to all residents affected by the regeneration scheme, with folk who want to move back to Pleasley Hill given first option on the new properties.
Mansfield District Councillors will today review the delegated decision and have the final say on whether the total £740,000 is allocated to the project.