Consultation for borrowing proposal for Doric Park

Trowbridge Town Council has decided to provide the local community with a 3G-Artificial Turf Pitch Facility at Doric Park, Devizes Road, Hilperton. This follows significant consultation with users and residents over many years, and is in accordance with the adopted Playing Pitch Strategy of Wiltshire Council and the Town Council Strategy. In addition the Town Council is in discussion with developers regarding the provision of additional grass pitches at Ashton Park and at Elm Grove.

Further details about sports pitch investment is available in the report which was presented to full council on 21st July 2020, and is available on our website Trowbridge.gov.uk.

You will be asked one question with four options to that question. You can only select one option.

You must be a resident of Trowbridge to complete. We ask that each individual only completes the survey once.

If you have any questions regarding the consultation please email Lance.allan@trowbridge.gov.uk

Question Title

* 1. We have received over £500,000 in planning gain funding towards the project and a grant of around £450,000 from the Football Foundation. The Town Council will have to find an additional £2.2million to fund the facility and we can do this in a number of ways, please select the option you prefer from the following:

NOTES: Both option 1 and option 2 would mean that the majority of residents in Ashton Park and other areas of new development would make little, if any, contribution to the facility but would benefit from reduced Council Tax Charges in future years when the facility was making a positive financial contribution, whereas existing residents of the town would be making a significant contribution immediately. The income from users is estimated to be greater than the costs including loan repayments for all options from year four onwards and the facility could deliver significant additional income in the future to invest in more sports and recreation facilities.

Option 1 - Funded in full over one year, with all of the cost to the Council applied to the Council Tax.
£2.2million less the net income gives £2,098,498
With 11740 Band D equivalent households would result in an increase of £178.74 on the current Council Tax Charge of £164.98
Which would equate to a 108.34% increase. (More than double).
It would generate a positive cumulative contribution from year twenty-one.

Option 2 -Funded over 4-years. £550,000 per annum plus interest (1.92%) is £574,025 (total repayments £2,296,100) less the net income gives £472,523
With 11740 Band D equivalent households would result in an increase of £40.25 on the current Council Tax Charge of £164.98
Which would equate to a 24.40% increase.
It would generate a positive cumulative contribution from year twenty-two.

Option 3 -Funded over 30-years. £104,400 per annum including interest (2.48%) (total repayments £3,132,000) less the net income gives £2,898
With 11740 Band D equivalent households would result in an increase of 25p on the current Council Tax Charge of £164.98
Which would equate to a nil increase (as this can be covered by the budget).
It would generate a positive contribution from year three.

None of the above