All members are encouraged to attend an information and consultation evening to discuss the Redevelopment of Twerton Park. This is prior to the Club EGM (28th Jan) in which the club shareholders will be invited to vote on the signing of the Development Agreement.
We are reaching an important decision point for the club and this consultation represents an important opportunity for members to learn more about the options available to the club, the development proposals and the risks in signing the development agreement. Your opinions are important to the committee we want to hear your voice. This will inform committee members who will attend the Club EGM and vote on members behalf in respect of this decision.
In the interests of achieving maximum participation the Society intends to host 2 consultation evenings this week.
7.30pm Thursday 24th Jan 7.30pm Friday 25th Jan
Twerton Park Twerton Park
This is a follow-up session to the Redevelopment Q&A session which the Society hosted on 13th Dec. The purpose of the evening is to have an open dialogue about progress to-date and the Development Agreement. The Society Committee will also share its conclusions gained as part of the intensive due diligence exercise it has conducted into the Development Agreement and the overall scheme. There will be ample opportunity to ask questions and have your say.
Context:
The Redevelopment was integral to the Business Plan in the Big Bath City Bid and represents the only initiative the club has to clear its approx. £1m debts. The Redevelopment Working Group has assembled a comprehensive team of experts and has spent approx. 2 years working hard in partnership with Greenacre, the company which bought Twerton High Street and the ‘ransom strip’, to create the Development Agreement.1
The Development Agreement is the legal document which commits both partners (Bath City and Greenacre) to work together to execute the Redevelopment and it defines the outcomes for both parties. It is the signing of this document which the Shareholders will vote on at the Club EGM on 28th Jan. The Society currently holds 54% of the Club shares.
High Level Summary:
Every project of this magnitude and complexity has risks associated with it. The Society Committee has made it its No.1 priority to understand all the risks, potential impacts and the opportunities. We are confident that, with the help of our team of subject matter experts (some of whom are Society members), we have identified all the risks which we could reasonably expect to at this stage and understand the mitigations of each. Our challenge is to assess these risks, implications and opportunities compared to not going ahead with the Redevelopment.
Come along to one of the consultation evenings (or both) to ask questions we may not have thought of. Express a preference about signing the DA and give us your feedback.
The intention is to post supporting documents on this page.
You can also post questions or comments below if you wish.
We are reaching an important decision point for the club and this consultation represents an important opportunity for members to learn more about the options available to the club, the development proposals and the risks in signing the development agreement. Your opinions are important to the committee we want to hear your voice. This will inform committee members who will attend the Club EGM and vote on members behalf in respect of this decision.
In the interests of achieving maximum participation the Society intends to host 2 consultation evenings this week.
7.30pm Thursday 24th Jan 7.30pm Friday 25th Jan
Twerton Park Twerton Park
This is a follow-up session to the Redevelopment Q&A session which the Society hosted on 13th Dec. The purpose of the evening is to have an open dialogue about progress to-date and the Development Agreement. The Society Committee will also share its conclusions gained as part of the intensive due diligence exercise it has conducted into the Development Agreement and the overall scheme. There will be ample opportunity to ask questions and have your say.
Context:
The Redevelopment was integral to the Business Plan in the Big Bath City Bid and represents the only initiative the club has to clear its approx. £1m debts. The Redevelopment Working Group has assembled a comprehensive team of experts and has spent approx. 2 years working hard in partnership with Greenacre, the company which bought Twerton High Street and the ‘ransom strip’, to create the Development Agreement.1
The Development Agreement is the legal document which commits both partners (Bath City and Greenacre) to work together to execute the Redevelopment and it defines the outcomes for both parties. It is the signing of this document which the Shareholders will vote on at the Club EGM on 28th Jan. The Society currently holds 54% of the Club shares.
High Level Summary:
- The Club will receive £1.5m once the planning permission is completed. This is vital to the payment of debts and the financial viability of the club in the near future.
- As part of the overall scheme (which will also revamp Twerton High Street and provide student accommodation and some affordable housing) the club will benefit from:
- A brand new 1,000 seater grandstand (i.e. Football League standard) and an enclosure for 1,000 standing on the North side of the ground
- A comprehensive set of facilities, to include changing rooms, community rooms, gym, bar facilities, hospitality facilities (for match-day and non match-day use) etc.
- The Club will relinquish some of the current Car Park land (to enable the student accommodation to be built).
Every project of this magnitude and complexity has risks associated with it. The Society Committee has made it its No.1 priority to understand all the risks, potential impacts and the opportunities. We are confident that, with the help of our team of subject matter experts (some of whom are Society members), we have identified all the risks which we could reasonably expect to at this stage and understand the mitigations of each. Our challenge is to assess these risks, implications and opportunities compared to not going ahead with the Redevelopment.
Come along to one of the consultation evenings (or both) to ask questions we may not have thought of. Express a preference about signing the DA and give us your feedback.
The intention is to post supporting documents on this page.
You can also post questions or comments below if you wish.
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