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Re: Objections by 29th September Please!
Post Mon Sep 10, 2018 12:27 pm
Posted by bren2k on Mon Sep 10, 2018 12:27 pm
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Sandal Cat wrote:
C = (T/F) * S

C = 171,000/6,000 * £19m

C = £541.5m

The formula should be

C = (F/T) * S

C = 6,000/171,000 * £19m

C = £0.67m

If you put Newcold back in C = £5m

We will be many, many years to get the £19m and without Newcold probably never.


Cheers - my numbers were as much cobblers as the Council, but the main point stands - it will take years of piece-meal contributions to get anywhere near, and they would still have the option of hovering around the final trigger without actually hitting it, effectively withholding the stadium forever.

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Re: Objections by 29th September Please!
Post Mon Sep 10, 2018 12:43 pm
Posted by coco the fullback on Mon Sep 10, 2018 12:43 pm
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Sandal Cat wrote:
C = (T/F) * S

C = 171,000/6,000 * £19m

C = £541.5m

The formula should be

C = (F/T) * S

C = 6,000/171,000 * £19m

C = £0.67m

If you put Newcold back in C = £5m

We will be many, many years to get the £19m and without Newcold probably never.


In fact, this method could be even worse. Assuming they correct the formula, if/when they hit the previous maximum (60 000?) They'd only have to stump up £6.7m rather than finishing the whole stadium?
Re: Objections by 29th September Please!
Post Mon Sep 10, 2018 1:32 pm
Posted by Fordy on Mon Sep 10, 2018 1:32 pm
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coco the fullback wrote:
In fact, this method could be even worse. Assuming they correct the formula, if/when they hit the previous maximum (60 000?) They'd only have to stump up £6.7m rather than finishing the whole stadium?


I'm not a developer and I admit to having absolutely no idea how much YC can expect to make out of various developments on the site but surely the simple adjustment to the formula is to make it dependent not on filling the entire site but on the previously agreed trigger point.

C=(F/Tr) *S
Where:
C = The amount of the contribution
Tr = Agreed trigger point approved under 10/00225/OUT (60,000m2)
F = Floor Area Proposed under application 18/01169/FUL (6,000m2)
S = Approximate Build costs for the Community Stadium Approved under 10/00225/OUT (C. £19,000,000)

So this particular build would contribute
C= (6000/60000) * £19M = £1.9M
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Re: Objections by 29th September Please!
Post Mon Sep 10, 2018 2:28 pm
Posted by The Avenger on Mon Sep 10, 2018 2:28 pm
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If Yorkcourt agree to this formula and sign a legally binding contract, S106 or whatever then is that enough for the Council to borrow the money in advance using the future contributions from the development to underwrite it???

This would make the funding for the stadium almost instant and would bring a close to the whole sordid affair for everyone.

It would also incentivise the Council to get out and attract new developments to the Newmarket site, new stadium, new business attracted to Wakefield, more business rates paid, X-number of jobs created = Win Win situation for all
Re: Objections by 29th September Please!
Post Mon Sep 10, 2018 2:47 pm
Posted by bren2k on Mon Sep 10, 2018 2:47 pm
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The Avenger wrote:
If Yorkcourt agree to this formula and sign a legally binding contract, S106 or whatever then is that enough for the Council to borrow the money in advance using the future contributions from the development to underwrite it???

This would make the funding for the stadium almost instant and would bring a close to the whole sordid affair for everyone.

It would also incentivise the Council to get out and attract new developments to the Newmarket site, new stadium, new business attracted to Wakefield, more business rates paid, X-number of jobs created = Win Win situation for all


It's a nice idea - and Council's can borrow money very cheaply - but can you see them doing so for WT? Because I really can't.
Re: Objections by 29th September Please!
Post Mon Sep 10, 2018 2:50 pm
Posted by The Avenger on Mon Sep 10, 2018 2:50 pm
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bren2k wrote:
It's a nice idea - and Council's can borrow money very cheaply - but can you see them doing so for WT? Because I really can't.


Didn’t they offer or agree to do something similar about 18 months ago
Re: Objections by 29th September Please!
Post Mon Sep 10, 2018 2:53 pm
Posted by homme vaste on Mon Sep 10, 2018 2:53 pm
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bren2k wrote:
It's a nice idea - and Council's can borrow money very cheaply - but can you see them doing so for WT? Because I really can't.


Were the council not looking at funding the £12 million redevelopment of Belle Vue upfront?
Re: Objections by 29th September Please!
Post Mon Sep 10, 2018 3:34 pm
Posted by wrencat1873 on Mon Sep 10, 2018 3:34 pm
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homme vaste wrote:
Were the council not looking at funding the £12 million redevelopment of Belle Vue upfront?


Was that part of the "we'll build a ground anyway" scheme ?, that was just more utter nonsense from our beloved local authority.
Re: Objections by 29th September Please!
Post Mon Sep 10, 2018 3:40 pm
Posted by Joe Banjo on Mon Sep 10, 2018 3:40 pm
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They do not have to borrow, council could use money from the capital account.
Re: Objections by 29th September Please!
Post Mon Sep 10, 2018 3:52 pm
Posted by bren2k on Mon Sep 10, 2018 3:52 pm
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Joe Banjo wrote:
They do not have to borrow, council could use money from the capital account.


Same difference - in these straightened times, with LA's under pressure in all sorts of areas, and their undoubted antipathy towards the club and the project, I can't see them doing it; but hey, the wrist-slap for YC was a pleasant surprise, so you never know - I may be wrong!
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