Certified Charter Accountants in Marple

Author Topic: E petition to save Edgeley Park  (Read 6669 times)

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simonesaffron

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Re: E petition to save Edgeley Park
« Reply #29 on: June 29, 2015, 07:45:01 AM »
Councils are able to borrow at very low, almost non-existent interest rates which is always helpful, sometimes even profitable, when they themselves are offering loans.

There is little wrong with borrowing for an extensive  road repair programme which brings roads up to an acceptable standard and thus reduces expensive regular maintenance costs incurred when roads are of a poor standard. This not pouring money down the drain, it is in theory, good business. Although I have to say that in practice I see no evidence of this programme in Marple, where roads deteriorate week by week.

I see little wrong with bailing out a sports organisation which is apparently very community minded. Although if SCFC is to survive then it needs to survive as a football club, something it has seemingly been unable to do for at least twenty years. 

Duke Fame

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Re: E petition to save Edgeley Park
« Reply #28 on: June 28, 2015, 02:25:36 PM »
Hmmm, this no cost to taxpayer phrase has come up many a time. A lot of office space has been bought / sold & leased back by the council and every time it's said not to cost any money. The result has been a lot of empty buildings and a cost to the tax payer.

Local authorities aren't good at investment

Dave

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Re: E petition to save Edgeley Park
« Reply #27 on: June 27, 2015, 07:37:14 AM »
If the council can't stump up small amounts of money to fix potholes on its major roads or replace small items of play equipment in children's playgrounds, why is it borrowing large amounts of money to prop up a private sports club?

Some confusion here.  Borrowing to repair potholes is (literally, almost) pouring money down the drain.  Borrowing to acquire an asset which is likely to appreciate in value is sensible investment, and if it also helps a local sporting organisation to keep going, so much the better.

The domestic equivalent, which we will all understand, would be borrowing from a payday lender to go to the pub (bad idea!), versus borrowing from a bank to buy a house (good idea).   

That said, unless County can get their act together, I can see the ground being sold on for housing within the next few years - but it is likely to be at a profit to us council tax payers. 

Duke Fame

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Re: E petition to save Edgeley Park
« Reply #26 on: June 26, 2015, 01:49:31 PM »
Duke you amaze me. I would have thought you would have seen the role of the LA is to put in place the environment that aids and supports the private sector.

Also you seem confused this is not a loan in any respect from the council. It is the council acquiring an asset  at no cost to the CT payer. What's wrong with that.

Councils should not aquire assets unless there is true market failure. The problem here is the other local authorities crowding out private enterprise.

wheels

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Re: E petition to save Edgeley Park
« Reply #25 on: June 26, 2015, 11:28:44 AM »
Duke you amaze me. I would have thought you would have seen the role of the LA is to put in place the environment that aids and supports the private sector.

Also you seem confused this is not a loan in any respect from the council. It is the council acquiring an asset  at no cost to the CT payer. What's wrong with that.

Duke Fame

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Re: E petition to save Edgeley Park
« Reply #24 on: June 26, 2015, 11:18:42 AM »
The local council has no business whatsoever providing financial support to a failing company, whether or not that company is a local sports club or the owners of the ground. The owners need to stand on their own feet or fail.

I quite agree, it is however, other local authorities financing other stadiums that makes Edgeley Park a white elephant. Greater Manchester is awash with sports stadiums, many of which are not being fully utilised.

I can't see how a council loan would be repaid.

wheels

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Re: E petition to save Edgeley Park
« Reply #23 on: June 25, 2015, 10:46:35 PM »
ermmmm, "well run" is not the phrase I would use.

Ok excellently run then although I do accept it reqularly scores Outstanding when various areas are assessed.

marpleexile

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Re: E petition to save Edgeley Park
« Reply #22 on: June 25, 2015, 09:51:48 PM »
Thankfully we have a well run local authority

ermmmm, "well run" is not the phrase I would use.

marpleexile

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Re: E petition to save Edgeley Park
« Reply #21 on: June 25, 2015, 09:49:20 PM »
I think you'll find that's not the case or the understanding of those involved

I hope you're right, but I suspect in a year or two when County haven't paid their rent, and there are front page headlines and sob stories on NorthWest Tonight, that it'll be a different story.

hatter76

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Re: E petition to save Edgeley Park
« Reply #20 on: June 25, 2015, 06:36:10 PM »
In reply to other posts yes I agree the Council should do other things like fixing pot holes etc. but to do so requires them to spend money that they haven't got.

Buying EP has not cost them anything, it is cost neutral. They have an asset as a guarantee. local Councils are able to borrow money easily but it needs to be for budgeted spend.   

Barbara

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Re: E petition to save Edgeley Park
« Reply #19 on: June 25, 2015, 03:45:41 PM »
Let us hope that this will persuade local people to support County rather than the greedy, money-obsessed Manchester clubs. 

wheels

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Re: E petition to save Edgeley Park
« Reply #18 on: June 25, 2015, 02:51:43 PM »
What ever we might think of the purchases it is, subject to DD, being achieved at no cost to the CT payer.  Sometimes Councils have to pump prime organisations Houndsworth Mill, The Plaza are obvious examples that spring to mind. Thankfully we have a well run local authority in which I certainly have confidence that this investment will be profitable for all concerned. ?.

amazon

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Re: E petition to save Edgeley Park
« Reply #17 on: June 25, 2015, 02:43:20 PM »
Stockport MBC have to take out a loan to buy the ground. Certainly, the land may not lose value, but the Council - or rather its Council Tax payers - still have to pay interest on the loan. The money to pay that interest comes from ... the rent (that might be) paid by Stockport County ... who are known for NOT paying their rent to Cheshire Sports.

To take on a loan at a reasonable rate one would need to demonstrate that one had a good business proposition. I'm stumped as to which lender regards Stockport County (middle of Conference League North; one place below North Ferriby United and a division below Altrincham, Chester and Macclesfield) as a good business proposition. If Stockport County's supporters regard their club as such a good investment why don't they stump up the 500 pounds each (2 million, divided by the 4000 or so on the petition) and buy the ground themselves?

If the council can't stump up small amounts of money to fix potholes on its major roads or replace small items of play equipment in children's playgrounds, why is it borrowing large amounts of money to prop up a private sports club?
. Good point Hollins

hollins

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Re: E petition to save Edgeley Park
« Reply #16 on: June 25, 2015, 01:06:17 PM »
Stockport MBC have to take out a loan to buy the ground. Certainly, the land may not lose value, but the Council - or rather its Council Tax payers - still have to pay interest on the loan. The money to pay that interest comes from ... the rent (that might be) paid by Stockport County ... who are known for NOT paying their rent to Cheshire Sports.

To take on a loan at a reasonable rate one would need to demonstrate that one had a good business proposition. I'm stumped as to which lender regards Stockport County (middle of Conference League North; one place below North Ferriby United and a division below Altrincham, Chester and Macclesfield) as a good business proposition. If Stockport County's supporters regard their club as such a good investment why don't they stump up the 500 pounds each (2 million, divided by the 4000 or so on the petition) and buy the ground themselves?

If the council can't stump up small amounts of money to fix potholes on its major roads or replace small items of play equipment in children's playgrounds, why is it borrowing large amounts of money to prop up a private sports club?

wheels

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Re: E petition to save Edgeley Park
« Reply #15 on: June 25, 2015, 12:34:27 PM »
I think you'll find that's not the case or the understanding of those involved