Councillors discuss £36m government loan for i360 - watch live

Councillors discuss £36m government loan for i360 - watch live

Councillors discuss £36m government loan for i360 - watch live

First published in News

Councillors are meeting to dicuss a potential £36m government loan to fund the i360 project on Brighton seafront.

Brighton and Hove City Council's policy and resources committee will be debating the loan as well as details such as the proposed capacity of the project.

You can watch live below:

Comments (10)

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4:09pm Thu 6 Mar 14

monkeymoo says...

How about taking £7m of that loan and STOPPING the proposed cuts to the Fire and Rescue service?

This council seem to believe that just 16 firefighters are enough to protect the 250,000 residents of Brighton and Hove..... Not to mention during the summer when the population doubles.

It's YOUR life they are putting at risk.
How about taking £7m of that loan and STOPPING the proposed cuts to the Fire and Rescue service? This council seem to believe that just 16 firefighters are enough to protect the 250,000 residents of Brighton and Hove..... Not to mention during the summer when the population doubles. It's YOUR life they are putting at risk. monkeymoo
  • Score: 20

4:26pm Thu 6 Mar 14

grabur says...

36 million for a viewing platform, that would probably not even give you a great view of Churchill Square ;).

How about save the cash, improve access to Hollingbury fort, and place a simple eco-friendly wooden platform in the middle of the ring. Better views to be had from up there.

Or improve the existing seafront...
36 million for a viewing platform, that would probably not even give you a great view of Churchill Square ;). How about save the cash, improve access to Hollingbury fort, and place a simple eco-friendly wooden platform in the middle of the ring. Better views to be had from up there. Or improve the existing seafront... grabur
  • Score: 15

4:31pm Thu 6 Mar 14

Hove Actually says...

"as well as details such as the proposed capacity of the project."

How about as many as blinking possible so there is half a chance the Tory green ego loan does not end up dumped on the Taxpayer too soon.
"as well as details such as the proposed capacity of the project." How about as many as blinking possible so there is half a chance the Tory green ego loan does not end up dumped on the Taxpayer too soon. Hove Actually
  • Score: 3

4:44pm Thu 6 Mar 14

Goldenwight says...

If my sums are correct, that works out at £100,000 per degree. And about £1m for every person who actually wants to see this built.

Incidentally, this quote from their website "Nicknamed 'London's Beach', Brighton is just 49 minutes from the capital by train and remains as popular as ever for a day out or weekend break"- what planet are these people living on??
If my sums are correct, that works out at £100,000 per degree. And about £1m for every person who actually wants to see this built. Incidentally, this quote from their website "Nicknamed 'London's Beach', Brighton is just 49 minutes from the capital by train and remains as popular as ever for a day out or weekend break"- what planet are these people living on?? Goldenwight
  • Score: 14

5:00pm Thu 6 Mar 14

Thay Qon U says...

As the main beneficiaries appear to be Businesses (seafront & elsewhere) why not ring-fence any i360 funding from BHCC Business Rates income only?

The other main beneficiaries are "outside visitors" who make no direct contribution to the BHCC Council Tax income, yet us local Council Tax payers are expected to underwrite this speculative, business venture and related funding at a time of extreme pressure on locally delivered BHCC services and budgets.

£6m private to £36m public funding/exposure (1:6) ratio, yet only a 1:1 share of any profits seems a very, very strange risk & reward financial model for this proposed Public-Private partnership.

Is the reported £6m private income 'real money' or is it just the architect/developer off-setting their professional charges for this project? - something is not right about this deal.
As the main beneficiaries appear to be Businesses (seafront & elsewhere) why not ring-fence any i360 funding from BHCC Business Rates income only? The other main beneficiaries are "outside visitors" who make no direct contribution to the BHCC Council Tax income, yet us local Council Tax payers are expected to underwrite this speculative, business venture and related funding at a time of extreme pressure on locally delivered BHCC services and budgets. £6m private to £36m public funding/exposure (1:6) ratio, yet only a 1:1 share of any profits seems a very, very strange risk & reward financial model for this proposed Public-Private partnership. Is the reported £6m private income 'real money' or is it just the architect/developer off-setting their professional charges for this project? - something is not right about this deal. Thay Qon U
  • Score: 8

5:23pm Thu 6 Mar 14

Hovite says...

Thay Qon U wrote:
As the main beneficiaries appear to be Businesses (seafront & elsewhere) why not ring-fence any i360 funding from BHCC Business Rates income only?

The other main beneficiaries are "outside visitors" who make no direct contribution to the BHCC Council Tax income, yet us local Council Tax payers are expected to underwrite this speculative, business venture and related funding at a time of extreme pressure on locally delivered BHCC services and budgets.

£6m private to £36m public funding/exposure (1:6) ratio, yet only a 1:1 share of any profits seems a very, very strange risk & reward financial model for this proposed Public-Private partnership.

Is the reported £6m private income 'real money' or is it just the architect/developer off-setting their professional charges for this project? - something is not right about this deal.
Yep I agree with your statement and it is very important " 'real money' or is it just the architect/developer off-setting their professional charges for this project? "
[quote][p][bold]Thay Qon U[/bold] wrote: As the main beneficiaries appear to be Businesses (seafront & elsewhere) why not ring-fence any i360 funding from BHCC Business Rates income only? The other main beneficiaries are "outside visitors" who make no direct contribution to the BHCC Council Tax income, yet us local Council Tax payers are expected to underwrite this speculative, business venture and related funding at a time of extreme pressure on locally delivered BHCC services and budgets. £6m private to £36m public funding/exposure (1:6) ratio, yet only a 1:1 share of any profits seems a very, very strange risk & reward financial model for this proposed Public-Private partnership. Is the reported £6m private income 'real money' or is it just the architect/developer off-setting their professional charges for this project? - something is not right about this deal.[/p][/quote]Yep I agree with your statement and it is very important " 'real money' or is it just the architect/developer off-setting their professional charges for this project? " Hovite
  • Score: 3

6:18pm Thu 6 Mar 14

Richada says...

Thay Qon U wrote:
As the main beneficiaries appear to be Businesses (seafront & elsewhere) why not ring-fence any i360 funding from BHCC Business Rates income only?

The other main beneficiaries are "outside visitors" who make no direct contribution to the BHCC Council Tax income, yet us local Council Tax payers are expected to underwrite this speculative, business venture and related funding at a time of extreme pressure on locally delivered BHCC services and budgets.

£6m private to £36m public funding/exposure (1:6) ratio, yet only a 1:1 share of any profits seems a very, very strange risk & reward financial model for this proposed Public-Private partnership.

Is the reported £6m private income 'real money' or is it just the architect/developer off-setting their professional charges for this project? - something is not right about this deal.
Just about everything is not right about this deal, which is why the Tories will be d@mned for backing this project.

Time to change tack now though, it looks as though this WILL be built - we are, as rate payers, collectively exposed to such a risk that we can only pray that, miraculously, this is more of a successful tourist attraction than any reasoned judgement tells us that it will be.

One other passing thought though, just HOW BAD can the Greens think times are economically if they anticipate such huge numbers to stump up £14.00 to take a 30 minute lift ride to nowhere?
[quote][p][bold]Thay Qon U[/bold] wrote: As the main beneficiaries appear to be Businesses (seafront & elsewhere) why not ring-fence any i360 funding from BHCC Business Rates income only? The other main beneficiaries are "outside visitors" who make no direct contribution to the BHCC Council Tax income, yet us local Council Tax payers are expected to underwrite this speculative, business venture and related funding at a time of extreme pressure on locally delivered BHCC services and budgets. £6m private to £36m public funding/exposure (1:6) ratio, yet only a 1:1 share of any profits seems a very, very strange risk & reward financial model for this proposed Public-Private partnership. Is the reported £6m private income 'real money' or is it just the architect/developer off-setting their professional charges for this project? - something is not right about this deal.[/p][/quote]Just about everything is not right about this deal, which is why the Tories will be d@mned for backing this project. Time to change tack now though, it looks as though this WILL be built - we are, as rate payers, collectively exposed to such a risk that we can only pray that, miraculously, this is more of a successful tourist attraction than any reasoned judgement tells us that it will be. One other passing thought though, just HOW BAD can the Greens think times are economically if they anticipate such huge numbers to stump up £14.00 to take a 30 minute lift ride to nowhere? Richada
  • Score: 6

3:51pm Sat 8 Mar 14

Ania Green says...

God forbid we should ever build anything in Brighton and have any kind of progress anymore in this city. This is an exciting and great opportunity for us all.

I sometimes wonder what the people here actually want. It certainly doesn't seem to be any kind of proper progress.
God forbid we should ever build anything in Brighton and have any kind of progress anymore in this city. This is an exciting and great opportunity for us all. I sometimes wonder what the people here actually want. It certainly doesn't seem to be any kind of proper progress. Ania Green
  • Score: -2

6:02pm Sat 8 Mar 14

Roundbill says...

Ania, if you're going to troll successfully on here, you need to be more subtle, sweetie xx
Ania, if you're going to troll successfully on here, you need to be more subtle, sweetie xx Roundbill
  • Score: 0

9:12pm Sat 8 Mar 14

Richada says...

Ania Green wrote:
God forbid we should ever build anything in Brighton and have any kind of progress anymore in this city. This is an exciting and great opportunity for us all.

I sometimes wonder what the people here actually want. It certainly doesn't seem to be any kind of proper progress.
Hi Ania,

Progress in this city right now would be getting our dustbins emptied, our recycling done, our potholes filled, our parks restocked with fish, newts etc, our planning regulations properly enforced.

Make basic progress on services for all THEN think about grandstanding a vanity project such as the i360 and who knows, the Greens might even find some support amongst those who elected them - but even then, using taxpayers money to do it will soon see even that support evaporate.

What the Greens simply fail to understand is that having let down and alienated so many residents in B&H, not to mention making the city a national laughing stock, we are not very well desposed to the Greens idea of "proper progress".
[quote][p][bold]Ania Green[/bold] wrote: God forbid we should ever build anything in Brighton and have any kind of progress anymore in this city. This is an exciting and great opportunity for us all. I sometimes wonder what the people here actually want. It certainly doesn't seem to be any kind of proper progress.[/p][/quote]Hi Ania, Progress in this city right now would be getting our dustbins emptied, our recycling done, our potholes filled, our parks restocked with fish, newts etc, our planning regulations properly enforced. Make basic progress on services for all THEN think about grandstanding a vanity project such as the i360 and who knows, the Greens might even find some support amongst those who elected them - but even then, using taxpayers money to do it will soon see even that support evaporate. What the Greens simply fail to understand is that having let down and alienated so many residents in B&H, not to mention making the city a national laughing stock, we are not very well desposed to the Greens idea of "proper progress". Richada
  • Score: 2

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