Bosses also said investments are carefully chosen to diversify the portfolio and mitigate risk.
Sudbury mayor Jack Owen, who fears proposed changes to reduce free parking will “damage” footfall to the market town, said: “There are all these things, like Belle Vue and parking charges, where they are counting their pennies and yet they go out and purchase a property outside the district.
Jack Owen, Sudbury mayor
- Credit: Archant
“It seems quite strange to me. I know they see it as part of their future revenue, but if they are hard-up, this shouldn’t be happening.”
While council chiefs said changes to free parking in Sudbury and Hadleigh are partly about cost, they said they cannot be financed in the same way as CIFCO.