Couldn't agree more mate

This thread has nothing to do with Yorkcourt everybody and their dog on here knows all about them and their misgivings, it's about the alleged new stadium at Castleford which despite the brave efforts of a few Cas fans who have come on here desperately trying to convince us Wakey fans that everything is on track, and the same posters having to back track at every turn when the Wakey posters pull to bits their attempt at trying to assure us everything is going to plan when it clearly isn't, as for Fully, he'll believe anything they tell him.

The major issue for the 5 Towns project, is the massive tax liability created by the gifting of the stadium to Cas.

They keep trying to bill it as a community stadium to avoid this, but it's a gift, or payoff for a planning break, to a private, for profit company and someone will have a massive tax bill to pay.

Until that is resolved, nothing's getting built.

Can someone explain to a thicko how things stand with the Cas ground? Cas fans have suggested for a long time that the ground would be built without units being taken up, this never rang true with me, we then get a pension fund suggesting they'll pay up front, non of this seems right.
So please someone in lay mans terms will you please explain it to us/me?

The S106 states that no retail units can be occupied before the stadium is ready to stage a superleague match. These units can be built at the same time albeit with a slightly staggered start time. Ultimately they will both both ready around the same time despite what some rather naive cas fans might want to believe, it's just that you'll be able to go to a game on the site a couple of weeks before you can buy a nice pair of slacks. Lateral have a funding agreement with a pension investment fund to forward fund the development but for Lateral to start building they have to know that enough units will be occupied and paying rent in order to be able to pay the pension fund back what it owes, otherwise they'll lose money. Hence until the contracts are signed they won't start building anything. If/when they are then it will be all systems go but they aren't at that point yet.

Cheers SC, I assumed it was something along those lines.

Keep up thicko its not really that difficult

Why is there a thread about Cas Tigers stadium on the Wakey forum, or are we competing with the the Wakey stadium thread on the Cas forum?.

I think we're exploring the link, or common denominator that is...Box and Wakey council ?

Exactly

I guess this thread gets traction on the Wakey forum because anyone who tries to post any questions on the cas forum gets banned!

The latest statement from Lateral makes it clear that securing the funding Iis dependent on various commerciall conditions being sorted (nothing to do with planning, the outline planning permission has been approved as it has for the YC development, but neither have yet submitted the plans for a stadium which also need approval)

Worst case for Cas is that the developer is now saying that donating £10m to build a stadium under a S106 agreement means they cannot make a profit (under legislation introduced by the coalition government, an authority must consider this and legally reduce or remove the S106 payment (as happened recently with a Fred Done development in Salford)).

A fixation and belief in planning applications (as some sort of proof it has to happen) does not help in my view - eg outline planning for a non food retailer was included in the outline plans for the Salford Stadium (9 years ago), 2 years ago a specific detailed application was submitted for an IKEA and was passed, yet nothing has happened since.

Best case is that the commercial conditions are a set number of retails units to be let before the funding is confirmed or that Wakefield Council provide financial guarantees and then funding will be secured and only then will building start.

As a RL fan I hope both teams get a new stadium to call home, but I do fear some Cas fans are reading what they want to read rather than what is there. Wakey fans have read it all before and will believe it when they are standing in it!

Keep it classy!