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Search the Public Notice PortalAn opposition councillor has raised concerns about the “opaque” nature of the council-owned company behind multiple large housing developments in Havering.
Cllr David Taylor, who chairs the place overview and scrutiny committee, said he was “nervous” about taxpayers’ money being "funnelled" into developer Mercury Land Holdings (MLH).
It comes after MLH revealed plans to demolish Angel Way multi-storey car park in Romford to make way for more than 100 new homes.
The developer has also proposed building new homes on the nearby Como Street car park, and on Dorrington Gardens car park in Hornchurch.
Cllr Taylor said: “I think once the taxpayers’ money has been funnelled into MLH it’s quite difficult to see where it goes. I don’t like the set-up at all – I think it’s quite opaque.”
Havering Council borrows to fund the developer through loans. These are then scheduled to be paid back over 50 years, with the interest generated contributing to the council’s general fund.
Cllr Taylor admitted that despite his concerns, this meant that the company was a “useful source of income” for the council.
He added that by using its own developer to deliver new homes on its car parks, the council can also ensure it has “an element of control” over what is built.
The Conservative councillor for St Edwards ward pointed to a recent decision to reduce the height of the tallest building on the Como Street site from 12 storeys to nine storeys as one example of this.
The change came in the months after concerned residents met with council leaders about the scheme.
Cllr Taylor said: “That demonstrates that we can put pressure on that developer. In that instance, MLH are not going to lodge an appeal and take that up to City Hall or government.”
He added that this ensures local people are not up against “greedy developers” who are unlikely to listen to their concerns.
“If MLH is managed properly in the interests of the council then we can assure it builds the stock that we need, rather than just building whatever is the most profitable,” he said.
Havering Council has been approached for a response.
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