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.

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

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.