A £250 million loan to the developers of Woking Football Club was agreed by Conservative councillors.https://twitter.com/surreylive/status/1271521148656730112 …
On this type of development there’s broadly 3 sources of funds: 1. Developer; 2. Bank; 3. Council. Each deal is unique but on this size the structure is pretty normal and I’ve seen it in practice many times. Why is the risk “huge” here? Do you feel insufficient due diligence?
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Insufficient due dilgence and the financial standing of the developer.
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Commitment is secured against the development itself. So worst case is developer goes bust and Council steps in/gets new developer to finish. Risk of losing money seems fairly low to me. Isn’t your real reason to oppose that you think it’s just too much housing?
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