So they have done it, AVDC Tories have decided to borrow money to build a hotel, & supermarket and offices, moving all the AVDC staff out of the town centre down to the Gateway, once again damaging the town centres lunchtime economy.

 

Let’s get this straight, I like Waitrose, I like the way the company works , its ethical, doesn’t have shareholders its staff are members and share in its success, so Waitrose isn’t the problem, my problem is the fact that AVDC Tories are borrowing money to build the store for Waitrose & the hotel for Travelodge, so what I hear you say I borrow money to buy my home, but this is council tax payers money, just like a mortgage what happens if interest rates go up, or Waitrose cannot make money from the store and pull out, what happens then, the council tax payer will be left picking up the tab, with an empty store, or with another store moving in but on more favorable terms, this is a terrible risk to take simply so the Tories can have a prestigious store in the town, the Travelodge probably is needed, but again should the council tax payers fund this development

 

The new offices for AVDC, yes they need even more room at the Gateway are not only incredibly dull and uninteresting to look at, BUT they will also cost another £5.8 million and remove more people from using the town center at lunchtime, the Peter Jones Enterprise academy at Waterside will cost the council tax payer £7.7 million out of the £13.8 million the project is costing, the National Enterprise Academy will  provide 60 new jobs, the much needed refurbishment of Aqua Vale another £3.8 million, all funded by borrowed money.

 

Borrowing to invest is not necessarily a bad idea, but the level of borrowing by this Tory administration, and the uncertainty over the economy mean that we could see this plan go under in a very short space of time, and leave the council tax payer picking up the tab, either by increased council tax charges, or the slashing of services provided by AVDC.

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