saddleworth Posted April 5, 2019 Share Posted April 5, 2019 On 3/14/2019 at 4:00 PM, Les Tonks Sidestep said: What isn't revealed afaik is where the other £millions are going to come from to build a (decent) stadium and I'm not sure that there'll be many investors falling over themselves to provide the funds. The other thing to consider is that such an act also opens up the possibility of a council loan to help get another planned new stadium off the ground...... Could the loan be a method of guarantee towards the continuation of SL at BV, another "get out of jail" clause?. Link to comment Share on other sites More sharing options...
The Grinder Posted April 5, 2019 Share Posted April 5, 2019 5 hours ago, Kirmonds pouch said: This is the kind of stuff I can't do with. Trinity have an excellent credit rating thanks to Carter and have been in the black for a number of years. I don't know what state Fev are in but we are ok. The commercial rate refers to what the Council would get if they put the cash into safe investments like a bank or building society. These rates of interest are around 1-2%. WMDC are not a bank and are clearly not lending at commercial rates, I think you're being quite ridiculous there.... Get used to it (i.e. not liking the truth) no mater how you wrap it up Wakey are getting a deal they could never get as a commercial loan. Even if you had an AAA credit rating you’d still fail to get the same deal I suspect. As for WMDC not being a bank you are quite correct and that’s the point really they are not set up as an organisation to lend money they are here to serve the community and how many things could that 3 million have used for today? PS What is trinity’s credit rating? I'm sure I'll think of something funny to say soon. Link to comment Share on other sites More sharing options...
haskey Posted April 5, 2019 Share Posted April 5, 2019 Perhaps repairing the roads ? Link to comment Share on other sites More sharing options...
saddleworth Posted April 11, 2019 Share Posted April 11, 2019 On 05/04/2019 at 18:16, haskey said: Perhaps repairing the roads ? Haskey, the list is endless. Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted April 11, 2019 Share Posted April 11, 2019 Confirmation of what a fantastic deal it is(n't) for the council tax payers of the district https://www.pontefractandcastlefordexpress.co.uk/news/wakefield-council-papers-reveal-trinity-paid-significantly-above-market-value-for-belle-vue-ground-1-9703559 Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted April 11, 2019 Share Posted April 11, 2019 Double post Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted April 11, 2019 Share Posted April 11, 2019 Triple post.... Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted April 11, 2019 Share Posted April 11, 2019 Quadruple post...... Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted April 11, 2019 Share Posted April 11, 2019 Pentuple post...... Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted April 11, 2019 Share Posted April 11, 2019 Hextuple post....... Link to comment Share on other sites More sharing options...
The Grinder Posted April 12, 2019 Share Posted April 12, 2019 So a £3+ million loan over 15 years at 2.5% obviously a loan at commercial rates. My bottom it is or words to that effect! FWIW a loan at that value, rate and period would cost a little over £20,000 per month to pay back, which is peanuts compared to the SL monthly payments that Wakey receive. And is significant less than the council could mange to get as a return if they where to truly invest £3 million. So all in all a very poor deal for the Wakey tax payers. I'm sure I'll think of something funny to say soon. Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted April 12, 2019 Share Posted April 12, 2019 29 minutes ago, The Grinder said: So a £3+ million loan over 15 years at 2.5% obviously a loan at commercial rates. My bottom it is or words to that effect! FWIW a loan at that value, rate and period would cost a little over £20,000 per month to pay back, which is peanuts compared to the SL monthly payments that Wakey receive. And is significant less than the council could mange to get as a return if they where to truly invest £3 million. So all in all a very poor deal for the Wakey tax payers. If my calculator works correctly the Council will 'make' £630700 from this deal (I get the repayments as £21k per month), although taking inflation into account it will almost certainly be a loss in real terms. Not really sure how it can be defended, especially given all the cutbacks going on at the moment, and I'd love to see the minutes of the Finance meeting where this was approved. Link to comment Share on other sites More sharing options...
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