Who do the Council borrow the monies from in the first place?

Is the debt unsecured, like if you get a personal loan to buy a car, pay an extortionate interest rate, but own the car....or:

Is the debt secured, like a mortgage, where the lender can recall the debt on default and sell your house from under you?

ie, if the council are the legal owners of the stand, can the mortgagor claim it if necessary?

I wouldn't take any notice of Lloyd - he couldn't even work out the basic maths on who played who in the play-offs with one match to go, and his attempts at discussing quotas or accounts are frankly embarrassing.

Having looked at the prudential loan listings, it seems that about 3% is the average rate but it does vary. £55k a year would seem too low IMO - Rovers contributing £1.65m over 30 years to a stand costing £6.5m? Unlikely.

The monies come frome central Govenment as far as I know.

The debt is secured on the stand and against future payments.

The council own the stand until it is payed for I think.

I'm not 110% sure as I am going on what info I can find as I never knew this kind of loan was available to companies.

But we are only talking about £4.2m as the rest is being funded by grants AFAIK.

Quote ="WormInHand"Who do the Council borrow the monies from in the first place? Is the debt unsecured, like if you get a personal loan to buy a car, pay an extortionate interest rate, but own the car....or: Is the debt secured, like a mortgage, where the lender can recall the debt on default and sell your house from under you? ie, if the council are the legal owners of the stand, can the mortgagor claim it if necessary?'" Sounds like the council own the legal title and bear the risk to me. They borrow from these chaps or someone like them I reckon: www.dmo.gov.uk/index.aspx?page=PWLB/About_PWLB Here's the sort of loans they make to local authorities: www.dmo.gov.uk/documentview.aspx ... ans_Report As Phil Webster alludes to, if Rovers were to go t1ts up, the council (ie the Hull taxpayer) bears the risk and is liable for £4m and lumbered with a redundant stand.

Quote ="WormInHand"Who do the Council borrow the monies from in the first place? Is the debt unsecured, like if you get a personal loan to buy a car, pay an extortionate interest rate, but own the car....or: Is the debt secured, like a mortgage, where the lender can recall the debt on default and sell your house from under you? ie, if the council are the legal owners of the stand, can the mortgagor claim it if necessary?'" Sounds like the council own the legal title and bear the risk to me. They borrow from these chaps or someone like them I reckon: www.dmo.gov.uk/index.aspx?page=PWLB/About_PWLB Here's the sort of loans they make to local authorities: www.dmo.gov.uk/documentview.aspx ... ans_Report As Phil Webster alludes to, if Rovers were to go t1ts up, the council (ie the Hull taxpayer) bears the risk and is liable for £4m and lumbered with a redundant stand.

Quote ="Mrs Barista"Sounds like the council own the legal title and bear the risk to me. They borrow from these chaps or someone like them I reckon: www.dmo.gov.uk/index.aspx?page=PWLB/About_PWLB Here's the sort of loans they make to local authorities: www.dmo.gov.uk/documentview.aspx ... ans_Report As Phil Webster alludes to, if Rovers were to go t1ts up, the council (ie the Hull taxpayer) bears the risk and is liable for £4m and lumbered with a redundant stand.'" And not just Rovers - there are two other parties paying rent as well - presumably Rovers cannot support the full repayments on their own. 3 companies need to keep solvent here for the loan to be sustained.

Quote ="Mrs Barista"Sounds like the council own the legal title and bear the risk to me. They borrow from these chaps or someone like them I reckon: www.dmo.gov.uk/index.aspx?page=PWLB/About_PWLB Here's the sort of loans they make to local authorities: www.dmo.gov.uk/documentview.aspx ... ans_Report As Phil Webster alludes to, if Rovers were to go t1ts up, the council (ie the Hull taxpayer) bears the risk and is liable for £4m and lumbered with a redundant stand.'" And not just Rovers - there are two other parties paying rent as well - presumably Rovers cannot support the full repayments on their own. 3 companies need to keep solvent here for the loan to be sustained.

I have no objections to KR having help, we had it but the difference between then now is immense, I would worry as a supporter of FC if this club accepted a large cash injection on the back of massive council cuts and job losses. When libraries/ museums start to be be closed two three days a week, bins twice a month and then cuts to social services it will not sit well with voters of any persuation. I am sure many KR supporters can see the dilema the club and the city council face when this hits the national media ( and it will) there will be hell to pay.

People are being forced to live in sub standard housing in Hull as a result of cuts and then we get this, this has nothing to do with clubs loyalty. If FC where getting this now I would say the same its immoral, perhaps they could fund the East stand as well by cutting home helps.

There is no votes in a stand for KR and senior citizens clubs/meals on wheels closing down, the political damage to everyone involved and Middlesborough Minns & Co have the worry on big time.

It beggars belief that it's got this far. Other than Councillor Phil Webbo and Prat Prescott, (Labour not LibDem!) just how has Hudgell got Minns and co to commit suicide in this way?

Maybe they could put a dole office in one of the office space's then that way it would stop the dole bum benefit scroungers using the bus to town and making them smell of pot.

But seriously who cares the council and rovers will look silly when its empty every other week and there still failing to pull in a average crowd of 10k.

Not really - as long as all the offices get used regularly then it will be serving it's main purpose as a project for the local community, the stand is just a nice little bonus thrown in.



And as the stand will further strengthen our franchise we won't be looking silly even if it's hardly used (which it will be anyway).

Ah yes, the one you lied on before. Dont forget if its not open on Rd1 of 2012, then thats another lie,

What we looking at?

a 7 month build?

SL 2012 starts mid Feb

So you'll move the Golf stand in May 2011 then, just in time for our game?

As long as the RFL don't see it as lying (which it's not - more a case of things not quite going initially to plan, which happens in life but won't affect our franchise).

FTR I can't believe you're actually allowed that username on here.

I cant believe you can type.

Ah well there is always your own board, or even the super secret red board........

You do realise that the repayments Rovers need to make now will increase the break even attendance figure to possibly north of 10,500? I'm sure you can rustle up an extra 2000 fans every week very easily.

So you're having a dig at the Unofficial Forum been 'secret' (which it isn't), but then implying I shouldn't post on here?

53 top flight home league games and two 10,000+ attendances (10089 and 10197) so it is desperately needed.

Considering we've improved on the pitch (where it matters most) year-on-year in SL, + with increased sponsorship, merchandise revenue (we do have an award-winning team don't forget

), I'm sure we'll be just fine.

Good work Hutch.

May I be the first to say I won't be visiting Craven Park, new facilities or not.

Your loss.

Not really, you cannot polish a turd.

You can waste £6.5m on a concrete monstrosity that will be used in anger for around 30 hours a year though.

it really has been a bad day for you mrs bore-ista.

Keep up. I don't live in Hull, so am not one of the ratepayers today exposed to a £4.2m risk. Not a bad day for me at all.

so why the anger ?