Hmmm.
Southend United: Ron Martin steps down from Fossetts Farm firm
THE Government says there is “no formal commitment” in place for a £30million injection to bankroll plans to build a new
Southend United stadium and more than a thousand homes.
Homes England has confirmed that discussions have taken place over the housing element of the Fossetts Farm plan, but no agreement is in place and any deal would be “subject to detailed DD”.
The loan was previously described as “absolutely crucial” to the project for a state-of-the-art stadium, a 107-bedroom hotel, and more than a thousand homes, by Southend Council leader Ian Gilbert.
Homes England had been expected to loan the money to Roots Hall Limited, the firm behind the development.
Southend UTD v Oxford, Blues lost 4-0, PIc LM 23/11/2019.Ron Martin.
It comes two weeks after Ron Martin, chairman of the Blues, resigned as director of Roots Hall Limited.
His son Jack remains as director of the company.
Ron Martin, who has been Southend United chairman since 2000, is currently waiting to stand trial after being charged with failing to pay more than £5million in tax.
A spokesperson for Homes England commented: “Whilst Homes England has previously held discussions with the landowner to determine how we could best support the scheme to unlock housing, we have not made a formal commitment.
“Any infrastructure loan or formal offer of infrastructure loan will be subject to detailed DD.”
Investment - The Fossetts Farm development
Martin, 68, and former chief executive Geoffrey King, 75, are accused of failing to pay £4,485,000 in Value Added Tax over the sale of land in Cheltenham, Gloucestershire.
The pair are also accused of failing to pay £921,260 of VAT in relation to the sale of land in Thundersley, to the same firm, Redrow Homes PLC.
Southend Council remains hopeful a deal can be struck to ensure the development, which is expected to bring £500million to the town and create more than 1,000 new jobs, goes ahead.
THE Government says there is “no formal commitment” in place for a £30million injection to bankroll plans to build a new Southend United…
www.echo-news.co.uk