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Council Executive approves extra funding for Moston site

The plans for Moston moved a big step closer yesterday (18 January 2012) when Manchester City Council Executive Committee approved a grant of £550,000 and a facility to borrow up to £500,000 if needed.

When the council asked us to look at the site at Moston as an alternative to Ten Acres Lane, we reported that there was a capital budget of £750,000 allocated to the site. Earlier this year the council approved an allocation of £200,000 towards the costs of a feasibility study which included developing plans for a ground and sports facilities plus consultation events with local residents and groups.

Yesterday the council Executive was presented with the results of that feasibility study and asked to approve the remaining £550,000 to FC United in the form of a grant to support the development we have put before planning. As well as the £550,000, the council has also agreed to lend the club up to £500,000 to finance the build, if required.

We have drawn up a prudent and robust business plan for the ground and facilities which has satisfied the council that we can service the additional borrowing if it is needed.

This week the leader of Manchester City Council, Richard Leese, described our proposal publicly as “One of the best football-based, community sport projects in the country.”

Further details are available on the members’ section of this website. Members/co-owners can use the ’login’ link at the top of the main page to access the update. If you do not have your login details please contact the office.

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First Posted ~ 14:30 Mon 23 Jan 2012
News ID ~ 4002
Last Updated ~ 14:30 Mon 23 Jan 2012