Council selling things off to pay for a new hotel (1 Viewer)

Nick said:

REVEALED: Multi-million pound city taxpayer bailout for ’boutique’ hotel plan at ex-Coventry Evening Telegraph building

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.

A bit risky?

Click to expand...

fernandopartridge said:

I don't actually have a problem with what they're doing here, sounds a sensible way to drive development.

Click to expand...

chiefdave said:

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.

Click to expand...

fernandopartridge said:

They've done this before, anything for a property developer promising the world.

I don't actually have a problem with what they're doing here, sounds a sensible way to drive development.

Click to expand...

Rusty Trombone said:

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.

Click to expand...