When you are looking into a Financial black hole – what do you do – you start digging? – foundations that is.
A couple of days ago the WW reported that “Your Waverley’s” finances could be in a parlous state over the next few years due to changes in government grant.
However, ‘Your Waverley’ does have £65 million tucked away in investments that are producing little or no return. So… what does it decide to do … turn property investor, because if you can’t beat them – join them.
Well we all know that “Your Waverley” has made a start by flogging Farnham’s family silver to begin its first property portfolio joint venture with Crest Nicholson, and Surrey County Council on the Brightwells East Street redevelopment. The next will be the creation of a new industrial estate adjoining Manfield Park Industrial site in Guildford Road, Cranleigh with another million of ‘Your money,” that has been set aside. oh! and by the way all your Cranleigh councillors over there voted for it being closed doors – except one. Guess who? Answers on a post card, but does the name Mary mean anything to you?
AND … IN THE GREEN BELT!
But then “Your Waverley” doesn’t have a problem gaining planning permission does it, even on Green Belt ? UNLESS OF COURSE IT’S IN A HURRY AS IN THE CASE OF EAST STREET AND THE CHANGING ROOMS FOR THE FARNHAM FOOTBALL CLUB – THEY JUST DO IT! DON”T THEY.
What’s next ? Well all those councillors well used to holding “secret meetings” with developers now intend to hold “secret meetings’ amongst themselves. Doing deals through its powerful Executive.
Farnham Resident councillor and “Your Waverley’s” Bete Noire- Jerry Hyman asked if the council intended to make a complete volte face in its previous Strategic Direction? Did it really intend to allow its Executive Committee, to spend millions of pounds of public money without reference to any Overview or Scrutiny by councillors. Because, if so by this was a huge change in the council’s strategic direction.
The Answer from Councillor Ged Hall was quite simply, ‘YES’ It is a change in our strategic direction!
Despite the frosty atmosphere which accompanies any questions from those whom the Leader described, as ‘tonight’s John and Jerry show,” the normal unchallenged Executive, was forced to answer to Farnham’s new boy… because Farnham’s John/Jerry weren’t giving up…
Saying`: “residents might question whether it’s wise to become a property investor when we are in a market bubble supported by negative interest rates and quantitive easing ?
Only 9/10 years ago this Council set up a Housing Board, spent a lot of money in the process – (though, I would like know how much)? Paid out legal fees and expenses and then folded it up after achieving – nothing!”
Actually WW would like to know ow much too – perhaps one of our little insider moles could tell us?
How much will it cost to set up this new outfit? No Answer. What would its modus operandi be – we’ll tell you when we are ready said Big G’ED.
Now really Councillor Hyman, you really must remember “Your Waverley” is unused to answering sensible questioned. This is not ‘Your Waverley” Councillor Hyman its “Their Waverley.”
Here’s the people who will be making decisions in future how to spend “Your Money.”
And here’s what Surrey County Council and Farnham’s Le Gal is doing with “Your Money, sending it North”