Lapse f memry r distrted fairy tale?
HINDSIGHT may indeed be a wnderful thing (Letters, January 31) but nly if viewed frm the perspective f an accurate accunt f the facts. Certainly nt the distrted fairy tale painted by Cllr Petts, distilled fr the benefit f her wn narrw party p
HINDSIGHT may indeed be a wnderful thing (Letters, January 31) but nly if viewed frm the perspective f an accurate accunt f the facts. Certainly nt the distrted fairy tale painted by Cllr Petts, distilled fr the benefit f her wn narrw party plitical ends.
At the peak f this Try aberratin, csts had escalated t the unbelievable sum f £14.5 millin. Despite the faint prmise f a £3 millin grant frm Cambridgeshire Hrizns, the end result wuld have required the cuncil spending all its reserves; selling ff every piece f land it wned and still be left with a mrtgage f £6 millin t pay ff the lender fr the mney that they wuld need t have raised.
The cuncil wuld have been transfrmed frm being debt-free t being debt-ridden and it wuld have been a fallacy t say that it wuld have cst nthing. The financial cst expended by the cuncil in undertaking the evaluatin was in excess f £100,000.
Thrughut the evaluatin prcess and prir t the decisin f abandning the scheme there was n speculative supprt cming frward frm develpers and it culd easily have left the cuncil with the entire site and n partner.
Events have shwn that Mantle Estates are prepared t take a gamble n develping its future. It is fr the sharehlders f the develper t take the risk f the site ever bearing fruit, nt the residents f East Cambs.
Cllr Petts cnveniently frgets it was the Independent members f the cuncil, tgether with a member f her wn grup wh, in the prevailing ecnmic climate, realised what a financial millstne the scheme wuld be fr East Cambs District Cuncil and residents and in uniting with the Lib Dems, brught the Try delusin t an end.
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Given that America is nw n the brink f recessin, large swathes f cmmercial prperty lie vacant and investrs are desperately trying t get ut f prperty funds, I believe the decisin taken at that pint in time t have been judicius.
Cllr Petts shuld stp believing in a pipe dream, and get her facts right. This is particularly evident in her respnse t the resident's letter where she culd nt even get the crrespndent's status crrect and shuld be magnanimus in aplgising t Mrs Gathercle fr the errr f assuming she was respnding t a man.
CLLR NEIL MORRISON
(Littleprt West Ward)
Nuthlt Lane
Ely
