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What's the exact wording of Axium's 106 agreement? Surly no funds will be released until any cast iron agreements have been made with any protentional tenants, even then you would think they have to be occupants of the units? If it's anything like the our timeline with YCP they could be looking at a good 5 years before any funds are available.
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| Quote deeHell="deeHell"What's the exact wording of Axium's 106 agreement? Surly no funds will be released until any cast iron agreements have been made with any protentional tenants, even then you would think they have to be occupants of the units? If it's anything like the our timeline with YCP they could be looking at a good 5 years before any funds are available.'"
The S106 states that no part of the warehouse and distribution development "build" can start until full funds are released, however, my understanding is that doesn't include the groundworks and traffic improvement part of the scheme.
But it would be prudent to presume that Axiom won't release the funds until they have that cost covered by cast iron agreements/contracts with their new tenants. |
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Now Axiom have the planning in their back pocket…. What’s to stop them coming back to Cas and saying…… we can give you 9million now so you can start your redevelopment, otherwise your going to be waiting a long time because we haven’t got many companies signed up for the units.
They could play a waiting game, knowing Cas need to get started Asap.
It’s not like developers would try and stiff anyone now is it?
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| Quote Belle Vue="Belle Vue"Now Axiom have the planning in their back pocket…. What’s to stop them coming back to Cas and saying…… we can give you 9million now so you can start your redevelopment, otherwise your going to be waiting a long time because we haven’t got many companies signed up for the units.
They could play a waiting game, knowing Cas need to get started Asap.
It’s not like developers would try and stiff anyone now is it?'"
The S106 states the have to pay £12.2m BEFORE any works relating to Axiom can start. |
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| Quote dboy="dboy"The S106 states the have to pay £12.2m BEFORE any works relating to Axiom can start.'"
So… could be 2months before the order book is full… or 2 years? |
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| Quote dboy="dboy"The S106 states the have to pay £12.2m BEFORE any works relating to Axiom can start.'"
But it doesn’t stop the developers from trying it on though… |
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There’s nothing to stop Castleford, trying it on either, they could go to the developer and say give us 10 million now instead of 12 million later
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| Quote The Avenger="The Avenger"There’s nothing to stop Castleford, trying it on either, they could go to the developer and say give us 10 million now instead of 12 million later'"
Very true…
I suppose if they could chop some parts of the the development to get it to about 10 million then it might be worth it.
But they will have shown their hand .. with the developer then offering them 9….. take it or leave it. |
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| Quote The Avenger="The Avenger"There’s nothing to stop Castleford, trying it on either, they could go to the developer and say give us 10 million now instead of 12 million later'"
That can't happen.
£12.2m is the amount stated in the S106. That's the amount that has to be paid to WMDC for distribution to the WR site.
It is in no way negotiable.
In fact, the longer it goes on, the less £12.2m will get them (we had the same issue with the rising materials costs too).
I think WMDC learned the lessons of the Yorkcourt S106 debacle. |
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| Quote dboy="dboy"That can't happen.
£12.2m is the amount stated in the S106. That's the amount that has to be paid to WMDC for distribution to the WR site.
It is in no way negotiable.
In fact, the longer it goes on, the less £12.2m will get them (we had the same issue with the rising materials costs too).
I think WMDC learned the lessons of the Yorkcourt S106 debacle.'" even if both parties agreed? |
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