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Letter: on council writing off PRSA debt - 30/06/10
SO COUN Lenton believes that the council writing off the PRSA debt was a 'prudent solution'! I beg to differ.
He says that with the BSI surrendering their lease as they can't repay a 1.9m loan, the council receives an asset with a replacement value of 11m – 'not a bad deal by any standards' he says.
I often visit the council's website, and reading the report submitted to the last full council meeting, item 3.1, Payments made to BSI in Support, states the council (ie we ratepayers) has 'supported' the BSI to the tune of almost 8.3m.
Now I might be wrong, but I read that as meaning that although the council might have an asset of 11m, 8.3m of that is what we paid towards it anyway. Isn't that called 'getting your own back'?
And now that the athletics club appear to be doing quite well doing their own thing, wouldn't it make more sense to offer the facility completely to the rugby club?
OBSERVER
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Thursday 24 May 2012
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