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Douglas Council look to borrow £12 million for new development

Douglas council has asked the government for permission to borrow £12 million for a huge development in the centre of the Island’s capital.

Councillors are asking the Department of Infrastructure for permission to borrow the cash - £2.5 million of which would buy a plot of land on Cambrian Place.

The remaining money would be used to build a library, offices, public toilets and multi-storey car park.

The petition will be considered by the department early next month.

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