Decision on how Madeira Road and Leyton Mount schemes will be funded

1:00pm Monday 11th March 2013 in News

An artist’s impression of how the student housing in Madeira Road could look An artist’s impression of how the student housing in Madeira Road could look

A SPECIAL cabinet meeting will be held tomorrow to agree how two Bournemouth developments will be funded.

Cabinet members will be asked to approve funding arrangements and land transfers for the Madeira Road student accommodation scheme, which also includes a new multi-storey car park, and the Leyton Mount mixed-use scheme, will be paid for.

The decisions need to be made as a matter of urgency because two of the funding offers are time limited until the end of March and the Madeira Road scheme needs to be started in April to be ready to accommodate students in September.

Comments(7)

Gary Sherborne says...
2:08pm Mon 11 Mar 13

Cllr Beesley, leader of the council, said: “We have huge potential on our doorstep. One area we are focusing on are the creative industries, so we will be looking to the Arts University Bournemouth for these new creative business minds.”

The council has announced that this initiative will be part of £15m set aside for a community financing initiative which will aim to give mortgages to first time buyers and provide loans to launch small to medium businesses.

sounds dodgy to me. developers and planners playing foot loose and fancy free with publicly owned capital and cash

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muscliffman says...
2:30pm Mon 11 Mar 13

Gary Sherborne wrote:
Cllr Beesley, leader of the council, said: “We have huge potential on our doorstep. One area we are focusing on are the creative industries, so we will be looking to the Arts University Bournemouth for these new creative business minds.”

The council has announced that this initiative will be part of £15m set aside for a community financing initiative which will aim to give mortgages to first time buyers and provide loans to launch small to medium businesses.

sounds dodgy to me. developers and planners playing foot loose and fancy free with publicly owned capital and cash
But is this not exactly what has been going on for many years, just wait until we see the 'comprehensive redevelopment' outcome for the publicly owned (£10million and the rest) Imax site/s at the Pier!

Maybe time to review this 'Cabinet' form of local Government, too many vested interests and too few selected Councillors effectively making the decisons.

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BmthNewshound says...
2:30pm Mon 11 Mar 13

Beesley has already made his decision so this meeting is completely pointless.
.
Gary, you're right it is dodgy but then again I don't think we've come to expect anything less from Beesley.

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Gastines3 says...
3:08pm Mon 11 Mar 13

Exactly how do we go about finding all the details of these schemes? Seems to me if the "Developer" can't find funding,it would appear to the investor that the said scheme is not viable.I don't think the Council should be allowed to sell off public land and also help finance the said development without a public look at the financial deal involved. The way our Council 's legal department writes contracts it seems to forget about protecting the public purse,our money, from developers with no money behind them,thus leaving us to clear up the mess and pay for it.

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Tictock says...
4:26pm Mon 11 Mar 13

Smells of rank fish this to me!

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Baywolf says...
5:57pm Mon 11 Mar 13

Just how much student accomadation is needed? Every new residential block being built is for students..where are the homes for families and working people ? If there is too many students looking for digs look at renting bed sitters or better yet turn Wally Polly into a proper University and watch the numbers fall.

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simcal says...
11:08pm Mon 11 Mar 13

The story started with, "A SPECIAL cabinet meeting will be held tomorrow to agree how two Bournemouth developments will be funded". The following bit is what was missed off. Change the full stop, replace with a comma and add, and how the kickbacks and contracts will be split.

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