TROWBRIDGE councilors are being asked to borrow up to £3.9million for a 3G artificial turf pitch for use by the city’s rugby and football clubs.
But the total cost of the project next to Trowbridge Rugby Football Club in Doric Park, Hilperton, could total £7.54million when interest rates and repayments are taken into account.
Based on the latest information from the government’s Treasury Department, this equates to an annual repayment, including interest, of £150,804 over a 50-year term at an interest rate of 2.99%.
In a statement, the City Council said: “Both Wiltshire Council and Council have had a long-term strategy to develop a 3rd generation artificial turf pitch at Doric Park.
“The City Council has received over £550,000 in planning gain funding (S106) for the project and a grant of around £488,000 from the Football Foundation.
“The City Council will need to find up to an additional £3.9m to fund the facility, including additional parking for Trowbridge Rugby Club, changing rooms, meeting space and a gym.
“Building inflation and interest rates have increased costs and the council is considering options for solar panels and organic alternatives for landfill, which have also increased project costs over time. His development.”
The project is contested by two Conservative opposition councillors, Cllr Edward Kirk and Cllr Antonio Piazza.
They believe that the 3G ATP project is too expensive and that any loans requested from the Public Works Loan Board will be repaid over too long a period.
Trowbridge Councilors will hold a special meeting on Tuesday May 3 to consider final approval of Doric Park’s 3G-ATP investment.
At the meeting, they will also be asked to approve a bid from a prime contractor for the construction of the proposed new leisure facility, which is expected to be completed in September 2023.
They will also be asked to enter into an agreement with Trowbridge RFC to access the site just off the A361.
In the meantime, residents of Trowbridge have been asked to complete a consultation survey on the latest plans.
Hard copies will also be available at the information center at Trowbridge City Council offices in St Stephen’s Place. The closing date for comments is Monday, May 2.