Community Stadium limps towards goal line

More risk for taxpayers as restaurant providers play hard to get

There is little new in an update report on the Community Stadium which will be considered by the Council next week.

It says final contracts will be signed this month.

We will see.

The report does admit that expected leases for some of the commercial property (restaurants) included in the project have not been completed. This means that, potentially, taxpayers could lose around £1.4 million compared to the figures quoted earlier in the year.

In July the Council admitted it would get a lower price (£10.76m) when it sold the land for the southern block and the lease on the east stand restaurants.

That was £2.6 million less than forecast in March 2016.

It is that sum that is now, potentially, being further eroded 

The Council claims that this might be offset by increases in income later in the life of the complex.

The stadium itself is being paid for by section 106 contributions. It is the neighbouring sports and swimming facilities which have become a financial deadweight.

Too late to make any major changes now though.

The Council claims that the stadium will be ready for use in June 2019.

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