Bob Morton’s bid for the Stow represents a commitment of £15m inward investment in to the Borough of Waltham Forest. The bid is broken down as £9m for the site plus £6m to refurbish the stadium and make it the ‘Royal Ascot’ of greyhound racing as well as providing other leisure and affordable housing on the site.
If this bid is successful, then Mr Morton will carefully consider further investment in the Borough of Waltham Forest.
Mr Morton is a multi millionaire and hugely successful and respected businessman. He is currently working with London & Quadrant on other projects and, through his various companies, he is vastly experienced in working with local authorities providing schools, houses, hospitals and other community facilities.
This inward investment in to the Borough is being prevented by London & Quadrant’s stubbornness and greed. Whereas Mr Morton wishes to plough millions in to this Borough, London & Quadrant remain quite happy to take millions out of the public purse by way of housing grants and wasted security costs. What makes this more galling is that they are doing this with £400m in the bank, not money they have earned themselves but money that has been granted to them from the public purse to build houses. The icing on the cake is that, during discussions between Mr Morton and London & Quadrant, L&Q cited the £400m in the bank as a reason why they are not prepared to sell. In other words, they do not have to sell on financial grounds because of money granted to them from the public purse.
We think that this is a public disgrace. How can it be right that, at a time when councils and residents are finding it financially tough, L&Q can hold this Borough to ransom using public funds as the weapon and then try to use a sham survey to justify their actions? The simple fact is that they paid far too much money for a proven viable greyhound stadium.
Saveourstow will continue to do everything in our power to ensure that this borough receives the inward investment, jobs, leisure, housing and heritage that Mr Morton’s bid provides. As the elected councillors of this borough we would ask that you also do everything within your powers to ensure that this borough does not miss out on this unique opportunity. L&Q cannot be allowed to treat the people of Waltham Forest in this disgraceful way.