Hard-up council will sell street names for £20k each

A CASH-strapped council has resorted to selling off street names in a desperate bid to raise funds.

Firms will be able to buy the rights to name roads and landmarks that make up new housing developments.

And bosses at Moray Council expect to earn around £20,000 with each sponsorship deal.

The council needs to make up to £5million in savings and is seeking ways of raising funds.

Council leader George Alexander hailed the plans as an ‘excellent idea’.

Elgin City South Labour councillor John Divers claimed that everyone was in favour of the

‘We’ve millions of pounds of debt’

scheme, thought to be the first of its kind in Scotland.

He said: ‘We’ve got millions of pounds of debt and need to raise funds in any way we can.’

Moray’s head of development services, Jim Grant, was hopeful local businesses would be attracted to the idea.

He said: ‘I’m thinking of distilleries and things like that, longstanding industries that may wish locations close to them being named after them.’

Proposed names will have to be approved by local councillors before being introduced.

With more than 4,000 homes planned for Elgin over the next 20 years, the town is likely to present firms the biggest opportunity to buy a street.

Elgin’s community council chairman, Alistair Kennedy, added: ‘Streets have to be named anyway so why shouldn’t the council be able to make some money off it? Just as long as we don’t see anything stupid.’