Kent have received a boost to their planned redevelopment of the St Lawrence Ground after Canterbury City Council agreed to loan the club £4 million towards the project.
The club approached the City Council for financial support because the £8.2m scheme meets a number of the council’s economic and well being objectives.
The council is able to access preferential borrowing rates, which in return benefits the club. The redevelopment includes a hotel, conference facility, health and fitness centre, hospitality boxes, stand refurbishment, floodlights and retail units.
They agreed to the move at the full Council meeting on Thursday.
George Kennedy, Kent Chairman, said: “The club is delighted to have been offered this support by Canterbury City Council. It will go a long way towards helping realise the Kent County Cricket Club vision of creating a ground of which we can be truly proud. In addition, the City will benefit through splendid new facilities for the area.”
The club will meet the full cost of the loan so there will be no cost to the council tax payers.
POSTED: 27/11/2009 15:08:33
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