New cemetery and allotments – Resolution to Borrow

At the Buckingham Town Council meeting on Monday 30th October 2023, it was resolved to seek the approval of the Secretary of State for Levelling Up, Housing and Communities to apply for a Public Works Loan Board loan of £1,250,000 over the borrowing term of 50 years for the creation of a new cemetery and allotments.

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The annual loan repayments will come to around £72,000.

It is also intended to increase the council tax precept for the purpose of the loan repayments by 0.22% which is the equivalent of an additional £2,600 a year.

The required “increase-precept” public consultation has already taken place which resulted in 87% of respondents in favour of the revised proposals and 76% in favour of the required increase in the precept.

Cllr Anja Schaefer, Mayor of Buckingham, said: “I am pleased that we are now in a position to apply for a public works loan so that we can start developing our much-needed new cemetery and residents can be secure in the knowledge that they will continue to be able to lay their loved ones to rest in Buckingham.”