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Croydon Council
1/ This is a story of idiots believing they are business entrepreneurs, it’s also a story about how shit Robert Jenrick is.
The government handing out endless loans to councillors who have 0 experience and 0 track record of success is bonkers.
#CroydonCouncil
1/ This is a story of idiots believing they are business entrepreneurs, it’s also a story about how shit Robert Jenrick is.
The government handing out endless loans to councillors who have 0 experience and 0 track record of success is bonkers.
#CroydonCouncil
2/ Croydon council issued a Section 114 notice with debts of £1.5 billion.
They can now only spend money on services they are legally obliged to. (quick note here, they are legally obliged to look after children and have failed miserably, given an incompetent badge)
They can now only spend money on services they are legally obliged to. (quick note here, they are legally obliged to look after children and have failed miserably, given an incompetent badge)
3/ In 2014 - the new administration of wannabe business magnates decided to spend millions on stupid projects
2015, Brick by Brick was formed as a private company owned wholly by Croydon Council to build affordable homes for local people. They didnt.
2015, Brick by Brick was formed as a private company owned wholly by Croydon Council to build affordable homes for local people. They didnt.
4/ It bought council land for £1, ripping off its own taxpayers and then borrowed £260m from the council, who then borrowed the money from Government and needs 30m more.
so far it's built
300 houses at a loss of £774,952 = £869,249 per house.
That's not very affordable.
so far it's built
300 houses at a loss of £774,952 = £869,249 per house.
That's not very affordable.
5/ It also purchased Fairfields Halls - to refurb as an Arts and Entertainments centre.
The budget was £30 million, it has now spent £42.6 million because it’s "got asbestos issues" (normal people find this out at the survey stage)
The budget was £30 million, it has now spent £42.6 million because it’s "got asbestos issues" (normal people find this out at the survey stage)
6/ Fairfileds also doesn’t include the cost of the underground car park they haven’t actually built yet, so no one can park there.
It still only has 26% occupancy with its business plan needing 50% minimum to break even.
It still only has 26% occupancy with its business plan needing 50% minimum to break even.
7/ Then they had another brilliant idea - borrowing from the Gov Public Works Loan Board they bought Croydon Park Hotel for £30m, which was £5m OVER the asking price.
Who does that?
Then ran £12m over budget on refurbs. It lost £146k in 2019, before Covid. And went bankrupt.
Who does that?
Then ran £12m over budget on refurbs. It lost £146k in 2019, before Covid. And went bankrupt.
8/Not to be put off they had another go & bought Colonnades Retail Park for £53m when retail leisure park revenues were on their arse and falling.
They planned to make £1.4m per year, which hardly covered the cost of borrowing in the first place. pointless!
They planned to make £1.4m per year, which hardly covered the cost of borrowing in the first place. pointless!
9/ Costs are also spiralling out of control in all areas (except the ones it actually needs to spend on)
£10,000 funded a festival where an actor shits on the sage (I shit you not)
£35,000 given to fund Croydon Pride in 2018
£59,000 given to fund Croydon Pride in 2019
£10,000 funded a festival where an actor shits on the sage (I shit you not)£35,000 given to fund Croydon Pride in 2018£59,000 given to fund Croydon Pride in 2019
10/ Obvs they needed a brand new sparkly building, so then they spent big.
£140 million on building new HQ council offices (£272.69p spent on a replacement tap for the above ffs)
£3.98 million decorating it.
£140 million on building new HQ council offices (£272.69p spent on a replacement tap for the above ffs)£3.98 million decorating it.
11/ Residents of Croydon will suffer because of gross incompetence, likely there will be cuts to children’s & other services.
I mean who needs to look after children right? they already spent £30m over budget employing agency workers who make up 76% of their social care staff
I mean who needs to look after children right? they already spent £30m over budget employing agency workers who make up 76% of their social care staff
12/ But its ok folks, the top staff at the council won't suffer, don't worry.
The last Chief exec left 4 weeks ago on a salary of £217,000 plus a £400,000 pay off and the new one is taking a pay cut to £197,000.
Oh Bravo!
The last Chief exec left 4 weeks ago on a salary of £217,000 plus a £400,000 pay off and the new one is taking a pay cut to £197,000.
Oh Bravo!
13/
Guy Van Dichele (exec dir health) £215,444
“Undisclosed” (Colm Lacey?) £202,500
Shifa Mustafa (exec dir place) £176,103
Richard Simpson (exec dir resources) £165,442
Undisclosed £152,500
Guy Van Dichele (exec dir health) £215,444“Undisclosed” (Colm Lacey?) £202,500Shifa Mustafa (exec dir place) £176,103Richard Simpson (exec dir resources) £165,442Undisclosed £152,500
14/
Eleni Ioannides (exec dir children) £150,000
Undisclosed £142,500
Jacqueline Harris-Baker (borough solicitor) £138,212
Undisclosed £127,500
This is not a story of austerity, It's simply greed.
Eleni Ioannides (exec dir children) £150,000Undisclosed £142,500Jacqueline Harris-Baker (borough solicitor) £138,212Undisclosed £127,500This is not a story of austerity, It's simply greed.
