We know L&Q can’t build and never will in the near future because, as soon as they do, their heavy losses show. The Directors are covering up the misuse of the public purse and their huge mistake in buying the world famous greyhound stadium. L&Q failed under due diligence on the site, and the CEO still remains in his taxpayer funded job.
Mike Johnson, Director of L&Q, keeps stating that they will produce a £50 million development and create 250 jobs, leisure facilities and homes. Already branded liars by a Government minister, L&Q still do not learn from their past. Mr Johnson, a £50 million development will now cost the taxpayer a loss of up to a £40 million – and rising by the day. And jobs? You have your own construction company and only around 40 jobs will be permanent. Leisure? You have none. Homes? Only 15 will be affordable.
The world famous greyhound stadium is classed as D2 assembly and leisure in planning, and was the most used stadium in the borough. Offers by L&Q to hock it off are: allotments, a four room gym, a climbing wall and a BMX track – on a listed building! You could not make it up!! They want to offer £1.75 million to the council as compensation for the loss of the “jewel in the crown of the borough” because they can’t afford to put any leisure buildings on the site. Will the council help L&Q? Well, £1.75 million compensation for the loss of the worlds most famous greyhound stadium has mass media attention from the BBC, ITV, Sky and all national press – as well as Parliament, MPs and the London Assembly. It would be an insult if the council even considered such a joke offer.
Waltham Forest council owe the tax payer the duty to disclose the loss and to stop covering up the misuse. It is a total farce by the council to say that we can’t disclose because it’s commercially sensitive. Why? L&Q are not selling! Was it because the council encouraged them to buy it in the first place?
The truth will out…
Mike Johnson L&Q ” we were given encouragement to buy from the council …………… make of it what you will “
Saveourstow have taped evidence to produce ….. concerning the stow to any inspector