Market Hill Flats.
22 September 2010 by Hamst
Having read through North Lincolnshire Council's Statement of Accounts 2009/10 a number of things caught my eye.
Particularly page 76 point 54. Deferred Liabilities.
It reads;
In 1989 Scunthorpe Borough Council entered into a deferred purchase agreement with Morgan Grenfell relating to works on Market Hill flats, in Scunthorpe. North Lincolnshire Council inherited this agreement following the 1996 Local Government Reorganisation. The �3.0m principal element of this agreement was due to be repaid in 1998. Following negotiations it was agreed that the agreement could be extended and repaid in twelve �0.25m instalments. The final instalment was repaid in 2009/10.
Crosby Flats.
It appears it has taken almost 20 years to pay off money borrowed for work done on the flats back in the early 1990's.
Was this a shrewd move by the council to negotiate spreading the repayments over this period of time?
Is this how all council development schemes are negotiated?
Councillor Lawman Welch, Mayor of Scunthorpe, unveiled the foundation stone of the Crosby Flats development in 1964, the high rise flats where opened by the Rt. Hon. Richard Crossman MP in 1966 and where dark blue in appearance, they where re-clad in the early 1990s with the colours we see today.
Crosby Flats.
It appears it has taken almost 20 years to pay off money borrowed for work done on the flats back in the early 1990's.
Was this a shrewd move by the council to negotiate spreading the repayments over this period of time?
Is this how all council development schemes are negotiated?
Councillor Lawman Welch, Mayor of Scunthorpe, unveiled the foundation stone of the Crosby Flats development in 1964, the high rise flats where opened by the Rt. Hon. Richard Crossman MP in 1966 and where dark blue in appearance, they where re-clad in the early 1990s with the colours we see today.
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