§ Mr. Skeffington
In the Inspector's report of the public local inquiry into this scheme it was stated that the total cost was estimated at £488,209, and the value of the land for new uses at £437,147. The annual loss on completion of the redevelopment was estimated at about the equivalent of a ½d. rate. Loan sanctions given so far amount to £28,327. The remaining expenditure will be incurred in a phased programme spread over several years.
Demolition and clearance has been going on for some time; road and sewerage works are expected to be carried out this year, and the first new building work is likely to start towards the end of the year.