Five-year loan plea
BEFORE I, and other parishioners, will be able to give our indications as to which options we would support regarding redevelopment of Hangstones Pavilion, I feel the leaflet has omitted a very serious point, which would help parishioners make a true informed decision.
The leaflet says that any loan raised by the council would be repayable over 30 years; the shortfall in Option 2 would be around £1,200, 000, and since £61 per year per household in Yatton would raise £300,000 a year in extra council tax revenue, surely the extra burden on parishioners should only last a maximum of five years to cover the shortfall? There is no indication as to how many years the levy would last, and if just absorbed into the parish budget would mean parishioners contributing an extra £300,000 to the council's coffers and infinitum. I would like to see any monies raised for this project to be clearly identified on council tax bills as a temporary surcharge to Yatton's precept – one which has a finite end date.
Dave Pinnock Yatton
Comments
by David Pinnock, Yatton
Thursday, August 19 2010, 2:42PM
“Since my letter Yatton Parish Concil have shown me a presentation - it does NOT show the anticipated interest rate of loan to be charged but talks of £12k pa extra maintenance costs - this could be reduce by offsetting £8k Council Offices Rent savings. No of rate payers could be 3200 and not 5000 as used so extra revenue would be £5.856m over 30 yrs, extra expense: £360k max extra maintenance if no offset, £1m loan attracting exhorbitant 10% simple interest would cost £3m, total £3,360k so where does remaining £2.5m go? Surely YPC can make its calculations Public? or are they afraid its miscalculations may be exposed?”