M&M Direct founder wants answers over ESG funding precedent (From Hereford Times)
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M&M Direct founder wants answers over ESG funding precedent
11:00am Friday 9th November 2012 in News
Mark Ellis, co-founder of M&M Direct, is now a property developer
THE man behind one of the county’s biggest business success stories has asked Herefordshire Council for “retrospective funding” of a six-figure property deal – citing the council’s £500,000 for British Land as a precedent.
In an open letter to Herefordshire Council leader Councillor John Jarvis, Mark Ellis, cofounder of M&M Direct and now a property developer, said his locally-sourced shop conversion – that brought cookery and homeware chain Lakeland to Commercial Street, creating 20 jobs – cost £200,000 out of his own pocket with no grants or subsidies.
Lakeland, said Mr Ellis, was wanted by the former Edgar Street Grid (now Hereford Futures) for the Old Livestock Market causing “much indecision” over the move.
“I managed to secure them for the historic core of the city and they have been a huge boost to Commercial Street,” said Mr Ellis.
He said council cabinet approval of £500,000 for British Land to cover “changing market conditions” over the ESG deal sets a precedent.
“Can I apply for funding retrospectively for my scheme? After all it is done, delivered, created jobs and it is performing,” said Mr Ellis.
And if that funding isn’t forthcoming, Mr Ellis says the council could always front up a sum for a similar conversion he has planned in Hereford city centre.
- Council agree new funding deal with British Land over old cattle market development
- Scrutiny committee to discuss new ESG deal
Comments(9)
ArmadilloSackRace
says...
11:40am Fri 9 Nov 12
"11:12am - Mr Bretherton tells the committee there are many more tenants than the named pre-lets"
http://www.herefordt
imes.com/news/100376
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rdshire_Council_s_sc
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Lukio
says...
12:03pm Fri 9 Nov 12
Biomech
says...
12:18pm Fri 9 Nov 12
That said, more power to Mark Ellis, why shouldn't he have a payout - BL have and they haven't even done anything.
mizza21
says...
1:13pm Fri 9 Nov 12
Why does British Land get such special treatment?
I might apply myself for a payment for my new shed.
That's my money they're spending. Money I have already been taxed on when I earned it.
Perhaps they've had consultancy from Bloody Silvio Berlusconi in how to run an organisation.
littlewhitebull
says...
1:30pm Fri 9 Nov 12
Herefordian
says...
4:49pm Fri 9 Nov 12
apdor
says...
11:09am Sat 10 Nov 12
The HERE you can signs are to promote hereford and bring in prospective businesses and funding ... what brilliant ideas do you have to rejuvenate the county ?
@LUKIO - It would make it a lot easier on then if they named them then maybe people would cut them a break. The council know that by naming all the stores would make everything better for them however, we have no idea of the contracts and the clauses in them. The names may well be being withheld for commercial reasons, so a competitor doesn't jump in and set up first or maybe the deals are not 100% signed etc
I really dont know why every one has such a downer on the ESG. I for one am fed up at having to do to other cities to watch a movie or go shopping. Ok its going to cost a lot of money, however we are investing in the future of Hereford !!
bobby47
says...
5:49pm Sat 10 Nov 12
Come on mate. I don't want to fall out but at least concede that we have a point here.
TwoWheelsGood says...
4:33pm Wed 7 Nov 12