Sunday, February 06, 2005
HERNE HILL VELODROME CLOSES
Southwark Council have had their efforts to extend the lease at the Veldrome
frustrated by Dulwich Estates who understandably are unwilling to offer a fourth extension.
There are several factors , local opposition but chiefly lack of progress by the London Velodrome Trust to firm up their future capital funding package.
An ambitious programme of raising £7m was severley hampered by
Sport England allocating only a total of £2m. for London Capital bids & a ceiling of £500K per bid. Sport England is currently pressing the government for an increase in funds and should hear in July. Even with better funding conditions the Trust would still be left to find £5m.
The London Development Agency promise of £1m is not identifiable in any budget.
Dulwich Estates were asking Southwark Council to act as guarantor -
Dulwich Estates are currently negotiating with a Sports and Leisure organisation for continuation of facilities on the site.
Southwark Council have had their efforts to extend the lease at the Veldrome
frustrated by Dulwich Estates who understandably are unwilling to offer a fourth extension.
There are several factors , local opposition but chiefly lack of progress by the London Velodrome Trust to firm up their future capital funding package.
An ambitious programme of raising £7m was severley hampered by
Sport England allocating only a total of £2m. for London Capital bids & a ceiling of £500K per bid. Sport England is currently pressing the government for an increase in funds and should hear in July. Even with better funding conditions the Trust would still be left to find £5m.
The London Development Agency promise of £1m is not identifiable in any budget.
Dulwich Estates were asking Southwark Council to act as guarantor -
Dulwich Estates are currently negotiating with a Sports and Leisure organisation for continuation of facilities on the site.
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