Albufeira council enters the risky world of property development using taxpayers' money

buildingsiteAlbufeira councillors unanimously decided on November 28th, to approve a proposal to purchase the bankrupt estate of Faceal - Fábrica de Cerâmica do Algarve and turn the old building into a school.

This purchase will cost local taxpayers around €2 million but that’s OK, the council says that the building has come down in price by €1.5 million so ratepayers are getting a bargain. This sum is only for the site, not to build a school whcih will cost millions more.

The mayor, Carlos Silva and Sousa, informed councillors that he has some ideas for the use of the building, now that he has turned into a property developer.

One idea "has to do with a school, of a professional nature with some connection to the maritime economy to create something that not only diversifies the education appeal in the Algarve, but will attract young people from the Algarve, from the country and even from outside the country." The mayor later mentioned a school for the offshore oil industry, but wished he hadn't as he officially is opposed to this type of industry in the Algarve.

In this one statement, the mayor shows he too is to follow the well trodden route of financial disaster when local councils get involved with anything more than running their council. Thankfully, the Tribunal de Contas has to approve the deal.

The mayor added that the University of Algarve has already shown some interest in joining the project, which "will be an asset to Paderne and to the county." The old factory site is on the Ferrarias to Paderne road at Mem Moniz.

On principle, this sort of folly needs stopping immediately but the vote already has gone through and locals await with trepidation the outcome of the Tribunal de Contas's decision for the mayor’s new school, "or similar."

facealFactory