Deal secured to hold the north terrace from the HiveWork to prepare Exeter City for the development of St James Park is now underway following the grant of planning permission last month.
Chairman Julian Tagg, said: “Work has begun in earnest to work towards the best and fastest way to prepare ourselves for the development of the Old Grandstand having now received that planning permission certainty.”
“Whilst the start date cannot be confirmed because, having been subjected to significant delays, there is still considerable detail that has to be completed although it is hoped that construction work on the new changing rooms might be commenced well in advance of work commencing on the new stand.
“Our developer has to undertake detailed and complex negotiations before we will know exactly what finance is available.
We remain, as has been relayed from the outset but not guaranteed, hopeful of financing, subsequent to those outcomes, the opportunity to develop the away end.
"With that in mind, while it has not been purchased, a deal has been secured to hold the north terrace from the Hive – which was taken down by Barnet at the end of last season.
“It was a deal that had to be completed, for a variety of reasons, prior to obtaining of planning permission presenting a degree of risk. Fortunately a way was found to take the opportunity but avoid that risk. Working with the Trust it was agreed that an eventual outlay of £65k facilitating a prospective saving of £150k was an opportunity both boards agreed should be secured.”
It is hoped there will be enough money in the St James Park development fund to develop the away end. However, because of the deal that has been struck with Barnet there may still be an option to develop the away end if not.
Julian said: “If there is not enough money via the development to complete the away end there is now the possibility that it can be completed over a number of years should we choose to and should finance permits because the intricacies of the deal agreed with Tony Kleanthous, Barnet Chairman, allows us to pay for it by giving Barnet £1 for every away supporter who comes through the turnstile once that stand has been erected.”
“The prospective deal agreed with Tony is exceptionally advantageous considering the circumstances and Exeter City are grateful again to one of the few who supported us at the time of the CVA. The stand is currently stored in anticipation at the Cliff Hill training ground and that is something that suits both Exeter City and Barnet.
“No matter what scenario eventually unfolds the away end situation obviously cannot be addressed until after the new grandstand is completed as access across that area will be required.”