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# Parish council could take out £500,000 loan to pay for new community centre in Streethay
- URL: https://lichfieldlive.co.uk/parish-council-could-take-out-500000-loan-to-pay-for-new-community-centre-in-streethay/
- Published: 2025-03-30T06:07:00.000Z
- Updated: 2025-03-29T21:49:53.000Z
- Description: Councillors in Streethay have debated taking out a £500,000 loan to help fund a new community centre.
- Author: Lichfield Live
- Tags: Politics, Streethay, #wp, #wp-post, #Import 2026-07-22 18:49, News

COUNCILLORS in Streethay have debated taking out a £500,000 loan to help fund a new community centre.

The facility has been [earmarked for land off Yoxall Way](https://lichfieldlive.co.uk/councillors-approve-plans-for-new-streethay-community-centre/) on the Roman Heights housing development.

Around £250,000 has been committed to the project from Section 106 funding, while a further £600,000 in Community Infrastructure Levy cash has also been earmarked.

But a report to a recent meeting of Streethay Parish Council said additional funding was needed:

> “The community centre project was initiated to provide a vital space for local residents, offering recreational, educational, and social services.  
>  
> “The project was originally estimated to cost £1.4million, but value engineering has reduced this to £1.3million, with further adjustments bringing it to £1.12million.  
>  
> “However, with the adjusted cost at £1.12 million, there remains a shortfall. To cover this and provide a contingency, a loan of £500,000 is proposed.”

The report added that the loan amount would equate to around £500 per household in Streethay – and warned that repaying it over 40 years would equate to £21.36 a year, while a 25-year term would mean an extra £29.93 a year.

It added:

> “Given the urgent need to complete the community centre and the lack of immediate alternative funding sources, the £500,000 loan under structured repayment terms offers a solution to progress.  
>  
> “However, in accepting the loan, this would mean Streethay Parish Council – and in turn its residents – are accepting full liability for the costs of the community centre.  
>  
> “With a number of housing developments proposed. Should these be approved, this may see an increased need for a community centre, alongside a growth in the council tax base which would reduce the liability of loan repayments as costs are split among a greater proportion of households.”

[The minutes from the meeting](https://lichfieldlive.co.uk/content/files/streethayparishcouncil-gov-uk/wp-content/uploads/2025/03/draft-minutes-2025-03-18-v2.pdf) show that the councillors “agreed to the loan in principle”, but that “outstanding considerations must be addressed by Lichfield District Council before a full commitment of acceptance is made”.