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.

Then I defer - it was a very simplistic back of the fag packet kind of approach in an attempt to look clever; I'm big enough to admit it, rather than going back and editing out my duncery!

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.

Bastards.

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

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.

Didn’t they offer or agree to do something similar about 18 months ago

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.

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!

I think it was an offer from Michael Carter to pay the interest and the council get the money back from the developer to pay off the capital. A free loan in terms of the public purse.

That's how I remember it too. Despite the fact that IF WMDC had fully backed the NM scheme / re-vamped BV (freeing up additional land at NM) and it not actually costing WMDC a penny (just relying on them to ensure that NM went ahead as agreed, I'm not sure that it went down well within Box's inner circle.

Good idea Fordy but we need to add back in the Newcold development which we believe should have contributed to the trigger so :

C = 46,000/60,000 * £19m = [u£14.56m[/u

Only an approximate figure but we are nearly there.

Ill be tuning into the council cabinet meeting today at 10:30 to see if Box has anything to say about the issue, if he does ill post it on here.

Quote ="Droopy"Ill be tuning into the council cabinet meeting today at 10:30 to see if Box has anything to say about the issue, if he does ill post it on here.'" For anybody interested www.wakefield.gov.uk/councillors ... r-meetings Doubt it's on the agenda though

Quote ="Droopy"Ill be tuning into the council cabinet meeting today at 10:30 to see if Box has anything to say about the issue, if he does ill post it on here.'" For anybody interested www.wakefield.gov.uk/councillors ... r-meetings Doubt it's on the agenda though

Quote ="coco the fullback"For anybody interested www.wakefield.gov.uk/councillors ... r-meetings Doubt it's on the agenda though'" It isnt on the agenda but there is a part of the meeting to address urgent topics or things not on the agenda that Box feels needs addressing. Im expecting the usual 'we are doing all we can' nonsense.

Quote ="coco the fullback"For anybody interested www.wakefield.gov.uk/councillors ... r-meetings Doubt it's on the agenda though'" It isnt on the agenda but there is a part of the meeting to address urgent topics or things not on the agenda that Box feels needs addressing. Im expecting the usual 'we are doing all we can' nonsense.

Nothing....

Our 100% competent and trust worthy council will already be all over this issue guys. No doubt trying their damnedest to get the best possible deal for the citizens of Wakefield, don't you worry about it....

Did you just see the same pig flying past your window as well?

Certainly did

I wish this is all they cared about and maybe that would, in turn, solve the stadium out at Newmarket. But when about only 130 jobs and one building has been built in all these years. on one of the best places left along the M62 to build warehousing, you even after question that.

Is it significant that little has happened over at the 5 Towns development as well.
This is right in Box' & Coopers back yard ??

Totally different development types, Newmarket warehouse/ logistical where demand is outstripping supply the other is retail isn’t it?