Villagers in Port St Mary are being invited to attend a public meeting about the recent rates increase and a controversial property redevelopment.

Port St Mary Commissioners bought Manxonia house in October 2016 but there is still uncertainty over its future use, with some critics describing it as a ’millstone’ for ratepayers.

Its purchase for £191,000 and ongoing restoration - estimated to cost £102,000 when complete - are being blamed by some for a 5.2% rates increase by the authority this year.

The public meeting takes place at the town hall on Monday (June 25), starting at 7pm.

It has been requested by the village’s Business Association who are concerned at the recent rates rise and whether development plans for Manxonia House and the town hall will have a future impact on businesses rates.

Supporters of the Manxonia project say it is regenerating a rundown building in the village and will provide a shop and a flat for rental.

Relocating the commissioners’ administration and payment office there will free up more space in the town hall to hold events.

But a business case released following a Freedom of Information request shows that from the outset the figures didn’t appear to stack up.

Originally the plan had been to fund both the purchase and renovation through borrowing.

This would be offset by rental income from the shop and flat of £12,000 a year, but still leave a net call on rate-borne income of £4,480.

In the event, however, the purchase was funded through reserves. A discrepancy was fortuitously discovered in the authority’s cash-backed reserves which had been understated by just under £200,000.

That discrepancy was thought to date back at least 15 years.

Last month, there was a call for Manxonia House to be offered for sale on the open market immediately, given that it was now watertight but needed extensive refurbishment. But commissioners held back from doing that at this stage and voted instead to get the building valued by three estate agents. Leasing options are also being investigated.

Port St Mary Commissioners are advertising for a new clerk. The board have been without a clerk since January, following the resignation of Alastair Hamilton. Agreement was reached in April regarding matters that led to his resignation.