Looks like a report is saying things might not be viable because of the hotel so the council are selling things off to make the money to hand over to the developers.
Looks like a report is saying things might not be viable because of the hotel so the council are selling things off to make the money to hand over to the developers.
Am I missing something here? Sounds like the council, and therefore the taxpayer, take all the risk and cover the costs but then if its a success the developer makes the profit.
Am I missing something here? Sounds like the council, and therefore the taxpayer, take all the risk and cover the costs but then if its a success the developer makes the profit.
Interesting looking at Far Gosford Developments Ltd on Companies House. They have already lent money from Birmingham City Council (this might be a proxy for the WMCA) and there is a charge over all of the property described here, I don't know how that fits with what CCC are doing.
Being serious for a moment all councils do this when the need arises. As FP says it’s to promote development of an otherwise derelict building/area. Value for money to the taxpayer doesn’t have to be measured in pound notes by law.
The director of the developing company is also a director of the City of Culture Trust, and was also involved the CV One company that managed (maybe still do) the city centre.
The director of the developing company is also a director of the City of Culture Trust, and was also involved the CV One company that managed (maybe still do) the city centre.
He's part of the Historic Coventry Trust (assuming this means Ian Harrabin). I know he's a bit of a bogeyman for some but I think he's done a lot of good work