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That sounds a lot like it's to get their housing up to the level to meet the Decent Homes standard (2006). The deadline for this was supposed to (I think 2010) but lots of Councils applied for extensions to this, I know Lambeth did as we had major works completed last year along with a huge amount of other estates in the borough.
For reference the works on our block included asbestos removal, concrete repair, roofing, double glazing for every property (approx 25). Our 1 bed flat estimate (still not finally billed) was almost £25k.
this doesnt look good for us. ach.