Report outlines 'poor judgement' to loan £5m for failed Hilton Leeds Arena hotel development

A working group investigating the controversial decision to lend nearly £5m of taxpayer cash to a company that went into administration has blamed "weak processes" in place at the time.
The Leeds City Region Local Enterprise Partnership (LEP) gave Oxford GB2 the loan in 2013 as part of a £32m plan to build a Hilton-branded hotel in Leeds city centre.
The planned hotel, in Portland Crescent, had stood half-built since the firm's eventual collapse in 2016, and the £4.8m loan "will not be recovered", a report prepared ahead of next week's West Yorkshire Combined Authority... read more

 
20 January 2018 in Yorkshire & Humber, Views: 34
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