Planning Approved!!!!!!!!!!

Quote: swoosh "Salford – Have planning permission and seem ahead at the minute however, there seems to be some problems with funding, haven’t heard a lot about Salford.quote]

Up To Date News Taken From The Salford Board.

This is a Joint Venture Company formed between Salford City Council and Peel Holdings. The Joint Venture Company is the applicant for the application and the City Council have provided the Joint Venture Company with a loan to pay for the construction work and new infrastructure. The Joint Venture Company would own and manage the community stadium, with the Salford City Reds having a licence to use it.

The Council aren't giving money they are lending it to the JVC, money that has already been sourced and ring fenced. The Council will reap the rewards when the Retail development is opened via rents.

I've just had it confirmed that these spending cuts will have no impact on the stadium and there is absolutely no call in from the Secretary of State and all systems are go!

I'm also lead to believe that this money isn't coming directly out of Salford residents pockets the Council are borrowing it to lend to the JVC as in these times a private company would struggle to get that kind of loan direct from banks. It will be paid back over time and the council may even make out if it in the long term.

Salford City Council are determined that this Stadium happens, they have given it the fullest of support and see it as another jewel in the City’s crown, following the Lowry Centre, Lowry Hotel, BBC/Media City etc.