Topic: Funding Approved

[Rushian]

STATEMENT ON FUNDING FOR ANFIELD REGENERATION
Paul Eaton 28 September 2006

The Objective One Project Selection Committee has agreed to award £9 million of ERDF funding towards a £24.6 million package of environmental improvements to Stanley Park, Anfield.

The award supports other partners’ investment intentions for the Anfield area – including Housing Market Renewal and a new stadium for Liverpool FC – and will help unlock substantial benefits in terms of physical and economic regeneration for north Liverpool.

The funding for the refurbishment of Stanley Park, The Gladstone Conservatory and public realm works is linked to Liverpool FC’s commitment to invest in a new stadium. Liverpool FC provided satisfactory evidence that the funding is available to it to build a new stadium and the award was made on that basis.

The project to refurbish Stanley Park, which includes a new lake, public art and the refurbishment of the historic Gladstone Conservatory, must be completed by December 2008.

“This is a major step forward for the people of Anfield,” said Councillor Flo Clucas, chair of the Objective One Project Selection Sub-Committee. “It will underpin substantial investment by other partners whose commitment will help transform the neighbourhood.

“Jobs, training opportunities and major physical regeneration will build a momentum that we expect to be sustained over time,” she said.

“This is another excellent example of how European Objective One funding can unlock significant investment from other partners to secure the long-term future of communities. In terms of the outputs we have been promised, this investment represents good value for money,” added Cllr Clucas.

This is NOT a grant to Liverpool FC to support the costs of its new stadium. The applicant for the funding is Liverpool City Council and the money is to be spent on Stanley Park, The Gladstone Conservatory and public realm works.

Other sources of funding for the refurbishment work at Stanley Park are Northwest Regional Development Agency (£8.9m), Liverpool FC (£5m) and Liverpool City Council (£1.7m).

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PARRY WELCOMES FUNDING DECISION
Paul Eaton 28 September 2006

Liverpool Chief Executive Rick Parry today welcomed the decision of the Objective One Project Selection Committee to award £9 million of funding towards environmental improvements to Stanley Park.
“The Committee’s decision is very good news for the people of North Liverpool," said Parry.

"It’s another significant step forward in our plans for the building of a new stadium, which we have always seen as a catalyst for the regeneration of the whole area.”

[mark_lfc_forever]

its good news but theres always gunna be catches just hope it runs smoothly

[ttnbd]

Sounds like the club have got, at minimum, drawdown facilities available from a syndicate of banks.   Just need for the dotting of i's and crossing of t's before full details announced I think.

[Samwise]

Sounds like the club have got, at minimum, drawdown facilities available from a syndicate of banks.   Just need for the dotting of i's and crossing of t's before full details announced I think.

Tim,

What do you mean by drawdown facilities?

Also heard on the radio, I think it must have been Cllr Clucas, that they are satisified with the evidence, but they have to go through a process of due dilligence? If you could explain what this is all about, that would be great.

Cheers

[ttnbd]

drawdown facilities is just a pool of money available to be borrowed over an agreed period of time.  For example the club may have agreed a £180m loan facility, however not all the money is required straight away.   So instead of taking all the money up front the club will take chunks over the period of construction as and when bills are to be paid on the construction of the stadium.

Due dilligence is, I think, to ensure the evidence given is accurate and that the funds are availble (so if bank loans they will probably have to see the agreements from the bank(s) that the drawdown facilities are in place), or if investment then the cash is either in the clubs account or in the process of being given to the club.

[Samwise]

much appreciatd tim

[mr-4]

Tim, 2 questions - how did you figure out that the investment is via a draw-down facility - there is no mention anywhere what the investment actually is?

Also, with regards to the 'due-dilligence' factor - is the council obliged to announce (i.e. make public) the information regarding that investment (in other words be more specific and disclose what the investment actually is and who invests what etc)?

TA!

[ttnbd]

I am making an assumption, there is only two ways the club will be paying for the stadium, that is either through outside investment into the club or by loans.  The likelihood is by loans, which are the drawdown facilities.  I went with the worse case scenario for it.

[docker]

still the club stay silent ref there side of the bargain,why, my guess is the funds are not available. im in the camp that if we have a new stadium then it will be shared with everton, not impressed with people slagging off stanley park ie its condition, money for the park was secured way back to 1999 to re-develop, so dont use its a shit hole as an excuse to build a stadium, the reason the club want the park is because its free land, and all this regeneration tied in is also bollocks, that would be going ahead stadium or not, and lastly as a new stadium, its cost & design border on the bargain basement not something grand like some people imagine, so breeze block toilets live on for you and i, unless ofcourse your in a nice box.

[Kopite]

still the club stay silent ref there side of the bargain,why, my guess is the funds are not available. im in the camp that if we have a new stadium then it will be shared with everton, not impressed with people slagging off stanley park ie its condition, money for the park was secured way back to 1999 to re-develop, so dont use its a shit hole as an excuse to build a stadium, the reason the club want the park is because its free land, and all this regeneration tied in is also bollocks, that would be going ahead stadium or not, and lastly as a new stadium, its cost & design border on the bargain basement not something grand like some people imagine, so breeze block toilets live on for you and i, unless ofcourse your in a nice box.

Why should the club have anything to say?

They've given the neccesary assurances to the council, that is all that matters.  Perhaps they can't say anything due to confidentiality clauses relating to the money.

[firstornothing]

The project to refurbish Stanley Park, which includes a new lake, public art and the refurbishment of the historic Gladstone Conservatory, must be completed by December 2008.

If this work of turning Anfield into Anfield Plaza must be done by December 2008 would that mean the new ground will have to be ready before then?

If so how does that fit in with the initial projection of ground breaking in 2009/2010 season?

By my calculation we're a season out between the two?  Or have I just got hold of totally the wrong end of the stick?

[ttnbd]

They may have split the package to ensure any funds allocated get spent on a part of the project that will get completed by then.  As Anfield Plaza cannot go ahead until after the new stadium opens the funds are best being allocated to another area where work can begin "straight away".    This gives 2 years for that particular part of the regeneration to be completed.

[Dave_the_Red]

 so breeze block toilets live on for you and i, unless ofcourse your in a nice box.
[/quote]

A breeze block stadium in a shit hole area, Sort of goes together.

As well, build a new lake?> Why would this be necessary in your utopian oasis. 

[MR]

Due dilligence is, I think, to ensure the evidence given is accurate and that the funds are availble (so if bank loans they will probably have to see the agreements from the bank(s) that the drawdown facilities are in place), or if investment then the cash is either in the clubs account or in the process of being given to the club.

It may be that the due dilligence (just a process of checking that everything that's been promised is true) is on the banks' side - that they need to check Liverpool's numbers to be assured that they will get their loan back

[nidgemo]

still the club stay silent ref there side of the bargain,why, my guess is the funds are not available. im in the camp that if we have a new stadium then it will be shared with everton, not impressed with people slagging off stanley park ie its condition, money for the park was secured way back to 1999 to re-develop, so dont use its a shit hole as an excuse to build a stadium, the reason the club want the park is because its free land, and all this regeneration tied in is also bollocks, that would be going ahead stadium or not, and lastly as a new stadium, its cost & design border on the bargain basement not something grand like some people imagine, so breeze block toilets live on for you and i, unless ofcourse your in a nice box.

Tell you what, fuck off to Stamford Bridge.

They have money, and everyone knows it. You'll be happy there.