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Golf club payment holiday will fund new car park

Tuesday, 30th November 2010.

Haverhill Golf Club has asked for financial help from St Edmundsbury to improve its car park after insurers raised concerns about the surface.

St Edmundsbury Borough Council's cabinet meeting tomorrow is being recommended to agree to give the club and 18-month holiday from paying back the loans which funded the course extension to 18 holes and the clubhouse extension.

Of the 450,000 borrowed, just under 250,000 is left to pay. The value of the payment holiday would be 43,000, but would not in the end cost the council anything as interest payments would just be deferred to the end of the loan.

The club plans to spend 77,000 to upgrade the car park and had asked for either a further 50,000 loan or the holiday, and officers recommended the latter as costing the council nothing.

Haverhill Online News

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