The dispute centred on the use of £527,500 Section 106 funding received by the Council from Asda in May 2005 as part of the construction of their Avon Road store in Cannock.
Fresh negotiations between the Council and Asda have now resulted in an agreement. The Council will retain the £527,500 for investment in a sports and recreation hub at the former Cannock Stadium site and return to Asda the interest accrued on this amount. These funds will be used in conjunction with other funds and grant funding bids to establish new sports and recreation facilities on this site following an extensive public consultation last year.
The £527,500 has to be spent within six years and Asda will be given proper recognition as being the co-funder of any sports facilities delivered by the funding.
Cllr George Adamson, Cannock Chase Council Leader, said: “I am pleased that this long-standing dispute has been resolved and that the funds are now protected for investment in sports facilities in the District.”
Doug Wilson, Head of UK Property Communications said: “We are delighted that the issue has been resolved and that the funds will be invested into sports facilities that will benefit the local community.”
I am Steve Mallows, the owner of thebestofcannock.I have lived in Cannock since moving down from Yorkshire aged 5 years.I am passionate about the Cannock area and helping local businesses. I have a keen...