Quote: Jake the Peg "The council loan will also be for the business units. From memory, rovers element was circa £2m payable over 40 years with little or no interest. Must be hellishly impressive business units to be costing twice what the new stand and teh wrap around corner bit will'"
The original cost was £6m, around £2m for the stand, £4m for the rest. Funding was from ERDF (£2m, on the non stand bit) with the the council borrowing £4m for the rest from PWLB central funding. We were told this would be cost neutral for the taxpayer by Cllr Webster as Rovers, Hull Training and a yet to be appointed business enterprise tenant would be effectively making the repayments.
Of course there were material errors in these costings and IIRC, the bill will be closer to £8.5m. If the ERDF element remains the same, the council would need to borrow £6m from PWLB. Just saying that coincidentally, the council have recently borrowed £6m from PWLB. The term, though, is 7 years. In the unlikely event that this £6m is the same £6m for the North Stand, that would represent a very poor deal if Rovers have been granted a 40 year term, and would render Cllr Webster's assertion incorrect. Pretty sure it's all just a coincidence though, if Rovers have a 40 year deal, that must be the same terms the council are getting and passing on. All more punitive than a peppercorn rent, clearly
It must be one hell of a improvement then. 
