Ashfield District Council is set to increase its exposure to property investments to £104m.
The council is looking to increase the amount of borrowing to acquire investment properties every year until 2022/23 with a rolling programme of authorisation.
Ashfield originally had an authorised borrowing limit of just over £40m, of which it spent almost half last year alone.
The council will now increase the amount of borrowing by an additional £20m for each of the four years from 2019/20 and add £2.4m to its capital strategy for borrowing to fund vehicle purchases in 2022/23.
The total borrowing requirement will increase to £104.3m, which includes the remaining balance £21.968m of its original borrowing limit.
A report to councillors said: “The net rental figure obtainable from investment properties will help support continued delivery of existing council services on which our residents rely.”
