Quote: sixtogo "I take it this is the piece that is causing the confusion.
“That as soon as is reasonably practicable following both the making of the Stadium Payment by the Council to the Trust and one hundred thousand (100,000) square metres of the B8 warehousing and distribution units permitted under the Planning Permission having been built out and occupied for commercial purposes, that it will let a contract for the construction of the stadium.”
Please note it says 'built-out' (actually should be build-out if we are being particular) not 'built'. There is a difference. Effectively YCP have estimated how much of the B8 build is needed to finance the stadium and as such need this to be pre-let and have the guarenteed contracts in place before it can commit to building the stadium. This is standard practice in these kind of deals. It doesn't mean they have to be built immediately and have companies working out of them prior to the stadium being built, just they need the commitment of other companies first.
If they already have this commitment, or will on passing of the PP, then the stadium build could start once reserved matters are passed.'"
Thanks for that.
You might want to mosey over to the cas forum and provide them with the same level of clarity; someone has posted a misinformed version of the above and, with barely disguised glee, explained how we're all been taken for a ride by YCP, a stadium will never get built at NM, YCP are virtually bankrupt and IA is being paid by them. As you would expect, it's been met with the same level of rather unseemly enthusiasm that the usual suspects display at any sniff of bad news for WTW, real or imagined.
It's actually rather sad, in a pathetic kind of way that leaves me unable to experience any sympathy or empathy.
