Council view of Situation after cabinet meeting

[Guest]

MARGATE FOOTBALL CLUB UPDATE

Thanet District Council’s Cabinet has (Thursday 5 August) approved further discussion of Margate Football Club’s draft Heads of Terms* agreement for their stadium development proposals at Hartsdown Park.The Council is now encouraging the Club to develop the agreement* and make that document acceptable and legally binding by advising on the type of information that has to be included.* (*see Notes to Editors for explanation) The Club’s financial partners Channel Hotels and Properties (UK) and CNC Properties Ltd, are also seeking the security of the Heads of Terms agreement before supplying further information. The report presented to last week’s meeting was to update Cabinet members on the Club’s progress to redevelop the Hartsdown Park Stadium and comment on the draft Heads of Terms* for the possible future development at the site. The meeting also heard that Margate Football Club and their commercial partners CNC have not submitted a project plan, cash flow projection, or evidence of the costs of the project and how this will be funded. Commenting on the decision, Cllr. Charles Hibberd, Cabinet Member for Housing and Property Services, who is deputising for the Leader of the Council on the project during his annual leave, said: “Thanet District Council wants to see a football club in Margate. Drawing up these types of agreement is complex and requires many legalities to be completed. The Club’s draft Heads of Terms need to be more comprehensive and that is why we have agreed to work with the club further.” He added: “The public also need to be aware that this agreement is separate from the planning process and the club still have to fulfil all the terms and conditions of the planning process, as and when they submit their final planning application.” The decision made by Cabinet was: ? To consult further with MFC and CNC on the draft Heads of Terms. ? To send Members a progress report before the next Cabinet meeting. ? To prepare a further report once any planning application has been received and any planning decision made to determine the length and nature of the leases agreed. ENDS Notes to Editors: Any Heads of Terms agreement is an outline of the eventual lease agreement, which broadly outlines what the nature of the lease / arrangements are. For example, for the Council’s purposes, the Heads of Terms agreement should include: ? Details of the development – what will be built ? Agreement on any rent ? Restrictions on the uses of the buildings ? Step in rights over the stadium and pitch to ensure that it is used for football ? NB The full draft of the Head of Terms agreement drafted by the Council is available as an annex to the Cabinet report of 5 August. The Council also wants, in advance of the signing of any agreement: ? Full confirmation of the company/companies involved and their relationships to each other ? Completion of due diligence on this/these company/companies ? To consider guarantees or other security ? Demonstration that the developer has adequate funds to complete the entire development ? Clarity on the proposed financial model ? That all monies due to Thanet Archaeological Trust for work undertaken in 2003 at Hartsdown Road will be paid in advance of the signing of this agreement. 09/08/2004

 

[alan the fly]

Well done for finding that.

 

Looks like we still havent applied for planning permission but it seems that the Council do want to work with the club now.

[Cookie]

Dosent the council STILL want a lot from us? Well it looks that way and it dosent sound all that clear about the agreement of the heads of terms either. Sorry for STILL being pessimistic but thats what I'm reading.

[Guest]

At least tdc are know talking to the partnership. perhaps for the 1st time they actually know what is required. plans and other documents (from personel experience)are very expensive items and any availible funds could easily fritted away on the wrong paper work. I hope when a certain person who's on holiday does'nt throw a tantrum when he returns.I for one have'nt missed the 5 o'clock thursday press statments.

[michael]

There is nothing unusual in the council report.

Frankly, we appear to be today ,where the club ought to have been 18 months ago.

 

All we can hope is that in Mr Lever, there is a professional businessman who is skilled in project management and will also have MFC interests at heart.

I wish him well.

Until now it has been like amateur night at the pictures-if there is someone driving this who finally knows what to do, maybe there is a chance of success.