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Mareel - Cinema & Music Venue


madcow
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....It is how you want to see it to prove a pointless example of a justification of what you think....

 

Pots and kettles Peat, pots and kettles.

 

The trust ill advised, they were wrong in their suggestions. You cannot use capital money for revenue, to suggest that is the answer shows that there is a lack of understanding about finance. I do like they way you now defend the SCT where in other threads you lambaste them, talk about picking finer points from a sea of dull objects.

 

I'm not disputing capital finance cannot usually be transferred for use as trading finance, the (apparent) suggestion to do so was one of several made by several Trustees, and in no way invalidates the other suggestions made. In defence of the Trustee who made that suggestion, it I believe is extremely unlikely they had full details of the full Mareel funding package available to them at that meeting, and while all of the Trustees who were also Councillors had (or I hope they had) previously studied the finance package with their Councillor hat on. They, firstly as Trustees should have removed all knowledge of that from their mind (although in practice I don't believe that is a realistic expectation), and in any case I don't believe it would have been reasonable to expect them to remember the finer points of teh finance package anyway, given that years had passed since it had been approved.

 

To that end, while that one suggestion may at first seem "silly", if it was, as I'd very much suspect was the case, that little if any details of the original funding was available to the meeting, they had no way of knowing what sort, if any, "start up" finance might have been included in it, which could have been available for the purpose requested.

 

Point is, numerous "suggestions" were made, which you can read any way you like, but the only message I can see in it is, "You have your finance, make it work any way you see fit, as we're not backing you with any more on any terms", a point reinforced by their refusal to vary the terms of already approved finance.

 

The SCT as is, and has been for a very long time, a disaster area which recurs regularly, I'm not about to claim otherwise. However their decisions are variable in quality, this was one of the very few times IMHO they actually looked at the request in front of them sensibly and reasonably and took an appropriate decision. Its called giving credit where its due, its just a pity we see an example so seldom with the SCT.

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£600,000. Good.

 

Good for whom precisely? I feel for the two halls. I'm waiting to hear what the stringent conditions are. On the information available at present, I think the decision sucks.

 

If this had happened elsewhere, Gibbons and/or whoever else is responsible for such an overspend would have resigned.

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3 threads discussing Mareel finance have been merged with this one. Please refer to the forum guidelines for info:

 

Avoid starting a new discussion thread if there's already a relevant one - the forums become confused and discussions difficult to follow when there are multiple threads dealing with similar or identical subject matter, so we encourage users to post in existing threads whenever possible. This gives new posts a chronological order, provides background information to new posts, keeps popular topics active and acts as a running archive of subjects. New topics which are deemed as dealing with the same subject matter as existing threads will be locked and/or merged with the existing thread
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£600,000. Good.

 

Good for whom precisely? I feel for the two halls. I'm waiting to hear what the stringent conditions are. On the information available at present, I think the decision sucks.

 

So, the decision not to refurbish the halls when they had some of the conditional money in place was bad, but to give money to Mareel which also already had conditional money in place is also bad? Yeah, that makes sense.

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£600,000. Good.

 

Good for whom precisely? I feel for the two halls. I'm waiting to hear what the stringent conditions are. On the information available at present, I think the decision sucks.

 

So, the decision not to refurbish the halls when they had some of the conditional money in place was bad, but to give money to Mareel which also already had conditional money in place is also bad? Yeah, that makes sense.

 

It does when you are of the opinion Mareel has already had more than enough, and has delivered an underwhelming facility for what its already gotten, but that the halls are valuable low cost facilities that should be maintained.

 

It does when the money requested by the halls had already been earmarked for that purpose, but any money Mareel gets is entirely "new" money.

 

A cynic could be tempted to think that the reason the halls were denied, was to allow the Mareel offer to be made. As while the official approach may or may not have been made, its almost certain that grumblings that one was going to have to be made were already rife in the SIC grapevine.

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Now is all the talk about stringent conditions just waffle to make us feel they are being tough on them or will it have some substance. Time will tell.

 

Also will the results of their commission a full due diligence study and post project review be made public or will it be another cover up?

 

If its not a loan I think it's another nail in the coffin for our finances and another poor decision by the councillors.

 

The councils inability to treat all requests for cash on an equal basis are making them a laughing stock, it's one rule for Peter and another Paul!

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An idiot could be tempted to think that the reason the halls were denied, was to allow the Mareel offer to be made. As while the official approach may or may not have been made, its almost certain that grumblings that one was going to have to be made were already rife in the SIC grapevine.

 

Fixed that for you.

 

If you are going to quote anyone, kindly DO NOT F*** with the quote. Thankyou!

 

If you feel inclined to call me an idiot, kindly have the balls to step up and say it.

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