On 05/12/2012 16:36, Anthony Polson wrote:
d wrote:
On Wed, 05 Dec 2012 15:09:58 +0000
Anthony Polson wrote:
I am bitterly disappointed that the extension of the Northern Line to
Battersea will be funded using taxpayers' money.
Why? There are other people living there already you know, it won't just be
for the new estate.
Apparently the new estate would be unviable without the Northern Line.
So the developers should pay, or at least make a significant
contribution. Not to do so suggests either that the development is
only marginally viable (I think we can probably discount that) or some
grubby deal has been done in which political representatives and/or
their party(ies) will benefit in some way.
developers to paying £1 billion for the extension of the Northern
Line, one has to wonder whether the outlay of taxpayers' money will
ever be recouped.
Mr Osborne announced: “As one of the first projects to benefit from this
scheme, the Government will provide a UK Guarantee to allow the Mayor of
London to borrow £1 billion at a new preferential rate to support the
Northern Line Extension to Battersea scheme, subject to due diligence
and the agreement of a binding Funding and Development Agreement with
developers, the Mayor of London and partner authorities during 2013.
“The Northern Line extension to Battersea is key to the redevelopment of
Battersea Power Station and the regeneration of an historic part of London.
"Government intervention has the potential to enable an £8 billion
investment at the Battersea Power Station site, supporting the wider
redevelopment planned for Vauxhall, Nine Elms and Battersea."
--
Phil Cook