City Council to Buy Hotel

[Lex]

Why the hell are the council wasting money they apparently haven't got on this?

http://www.coventrytelegraph.net/news/coventry-news/secret-council-deal-buy-coombe-13738114

[rebbonk]

Total insanity. They also bailed the place out in 2103 by giving it a loan after the current lender refused to renew it. £6.5Million IIRC.

[Lex]

I can only think they're taking the place on in default of the loan. But then, knowing local government doesn't seem to work like that - CCC will probably hand over several more millions of taxpayers money and just let the place sit and rot.

[rebbonk]

It will all go belly up (money is getting tight again) and the council will be stuffed with an expensive white elephant on its hands.

O'Boyle strikes me as not being the sharpest knife in the drawer.

[Lex]

The council are wasting money on that pile, while disabled kids are having their school transport cut: http://www.coventrytelegraph.net/news/city-culture-city-cruelty-campaigners-13743187

[rebbonk]

Looks like the purchase is going ahead.

Telegraph (http://www.coventrytelegraph.net/news/coventry-news/coombe-abbey-hotel-purchase-go-13744081)