Hereford Futures defends its record

First published in News
Last updated
Ledbury Reporter: Photograph of the Author by , Senior Reporter

STUNG by accusations of secrecy and document shredding, the board of wound down Hereford Futures (HF) has issued a final statement justifying the job the “arm’s length” company has done.

All of the company’s obligations within the joint venture agreement that set it up have been taken over by Herefordshire Council.

This week the company - long dogged by secrecy allegations over the way it operated - was at the centre of further allegations over document shredding ahead of the hand over.

 

The council said yesterday (Tues) that it was now confident all the necessary paperwork was in place.

All told, the council contributed nearly £3m to the running costs of HF set up to drive development in Hereford around the old market project.

The company says that it brought over £130m of capital investment to Hereford in return - a gearing of 45:1 – and created over 1,000 new jobs.

HF chairman, Ted Willmott, said that, as a result, Hereford had “a bright future”.

“Having secured key planning permissions for the urban village and inner city link road, we are confident that the right conditions have been created for continuing growth in the city – we urge our partners to maintain focus and momentum,” he said.

The council remains confident of success when the link road - and its related 130 compulsory purchase orders - goes to a public inquiry later this month.

If approved, construction of the road is set to start next year opening up land for the city’s proposed  “urban village”.

The Leader of Herefordshire Council, Cllr Tony Johnson , paid tribute to the “private sector expertise” that delivered what HF had done.

 The company's achievements were, he said, remarkable during a time of financial crisis and recession.

Comments (2)

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11:09am Wed 16 Apr 14

AylestoneVoice says...

Fair enough. But what is missing from this is any comment on the Market Hall. The Council passed the work on the regeneration of this to HF. It seems that they faffed around for ages and achieved nothing. Also HF did rely on very hard work of Council officers who as usual get no praise!
Fair enough. But what is missing from this is any comment on the Market Hall. The Council passed the work on the regeneration of this to HF. It seems that they faffed around for ages and achieved nothing. Also HF did rely on very hard work of Council officers who as usual get no praise! AylestoneVoice
  • Score: 2

11:40am Wed 16 Apr 14

saidflo says...

Oh yes ! Wonderful - the future is bright in Hereford!

What is missing from this debacle is a touch of reality.

Same old self congratulatory glib tripe coming from the council tory cabinet club!

Truth is "Hereford Futures" (lol) had a go at redevelopment in Hereford, it didn't go so well, and large amounts of council tax money was used ineffectively in the process.
Machinations were successfully kept away from public accountability.
The whole operation is now almost behind those closely embroiled in it and the process of being forgotten about. Someone possibly has a nice fat bank balance.

"The company says that it brought over £130m of capital investment to Hereford in return - a gearing of 45:1 – and created over 1,000 new jobs."
Those 1,000 NEW JOBS again - Last time I looked on their website - a second ago, it was 1,100 new jobs - (tripe to be blunt) . One day we may hear more detail about these fictious 1,000 jobs and why they never materialised but as they have trouble even remembering the amount I very much doubt it!!!
What does gearing of 45:1 mean in real speak?
Oh yes ! Wonderful - the future is bright in Hereford! What is missing from this debacle is a touch of reality. Same old self congratulatory glib tripe coming from the council tory cabinet club! Truth is "Hereford Futures" (lol) had a go at redevelopment in Hereford, it didn't go so well, and large amounts of council tax money was used ineffectively in the process. Machinations were successfully kept away from public accountability. The whole operation is now almost behind those closely embroiled in it and the process of being forgotten about. Someone possibly has a nice fat bank balance. "The company says that it brought over £130m of capital investment to Hereford in return - a gearing of 45:1 – and created over 1,000 new jobs." Those 1,000 NEW JOBS again - Last time I looked on their website - a second ago, it was 1,100 new jobs - (tripe to be blunt) . One day we may hear more detail about these fictious 1,000 jobs and why they never materialised but as they have trouble even remembering the amount I very much doubt it!!! What does gearing of 45:1 mean in real speak? saidflo
  • Score: 0

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