Nottingham City Council is aiming to review 550 of its assets by the end of next year to decide whether they should be sold off as it continues to try and reduce its debt. The council has decided to sell properties including a large car park in recent months in a bid to make savings.
Progress is continuing on reducing the city council's debt, with the authority revealing earlier in the year that it had reduced the £1.2 billion figure by £200 million. The council recently avoided Government commissioners being sent in to run it following problems such as the Robin Hood Energy collapse.
Instead, an Improvement and Assurance Board (IAB) was given more power in overseeing council improvements and as part of this, the council was given a list of 67 requirements that it had to fulfil by the end of November. Now, Nottingham City Council has published its updated 'Together for Nottingham Plan', which seeks to address its financial challenges.
