Quote coco the fullback="coco the fullback"It seems our nearest and dearest from over the common are getting in a tiz over possible funding issues and delays as regards NM being built.
Would this actually be a consideration for the planning stage or would they be totally uninterested in funding issues? Is funding a planning concern?
Surely, if I applied to extend my house, as long as it complied with the regulations, the planning department wouldn't look into whether I actually had the funds to build it. Another good example would be the proposed stadium at jn.32.
I'm happy to take this one step at a time. Planning first, then all systems go to get it funded and built.
Once more, a big thank-you to all those who spoke in support of the development. A Professional, well planned and co-ordinated effort.
We have given it our best shot. All we can do now is wait and see.'"
The funding of any project is not a material consideration of a planning application, although the general viability of the whole development is probably something the inspector will think about, whereas the progress of planning permission is usually fundamental when banks are considering an application to finance a scheme.
Nobody has really had the balls to go much further than innuendo about what financing is or isn't in place. Realistically, there's not much likelihood that there will be anything beyond an "agreement in principle" given the relative uncertainty about planning. It costs the banks money to set funding aside so there won't be a pot of money earmarked for the Newmarket scheme at whatever bank Yorkcourt are dealing with, so it's probably reasonable to say that right now Yorkcourt don't have an absolute certainty of funding. But that's not really a problem as we don't have absolute certainty on the planning yet.
Once the outcome of the PI is known, Yorkcourt can have more detailed conversations about the funding requirements with their banks.