A bid to increase borrowing by £17m for 149 affordable homes has been submitted to the government by South Cambridgeshire District Council.
It follows a government initiative in June which allows local councils to apply to borrow more money if they show that affordable housing schemes could be delivered quickly.
Bids under the new scheme must be deliverable within three years, on land the council has control over.
Since 2014 the council has completed 74 new council homes, including 10 in Gamlingay, seven in Great Abington and 23 in Waterbeach.
Parish councils could be 'sexed up'
Local Democracy Reporting Service
The former leader of South Cambridgeshire District Council has said the role of parish councils could be "sexed up" to attract more people.
Councillor Peter Topping said parish councils suffered from an image problem and that people think they "debate what colour to paint the cricket pavilion".
Parish council roles involve considering planning applications, bidding for and deciding on where money should be spent, putting together road safety schemes and producing neighbourhood plans.
"I think there is a perception they are too obsessed with the small things - we all know that is not the case," said Mr Topping.
Councillor Bridget Smith, the current leader of the district council, agreed and said that, "leaving out the sex bit", more could be done to encourage more people into positions on their local councils.