Some observations from Thanet residents-
Paragraph 3.29 of the Officers' report to TDC's Cabinet says it all:
"With respect to the need to acquire the land within a set period after confirmation of the CPO, RiverOak said that they would need time after confirmation of the CPO to secure and document the funding for the project. Given that the CPO process might take up to two years before the CPO is confirmed by the Secretary of State, RiverOak could then take up to 3 years to obtain the funding, this could see the airport lying dormant for potentially five years if there is no obligation on RiverOak to secure its funding within a set period of the confirmation."
What does this mean? It means:
1. RiverOak do not have the money to pay the compensation bill to the owners; pay any blight costs; and pay for the necessary development of Stone Hill park to set it up as an airport. That's fact. Yes, Sir Roger; yes, Dr Webber - that's a plain old fact.
2. RiverOak has had since August 2104 to start raising a fund but have chosen to do nothing. It might take them years to raise a fund (which suggests strongly to us that people aren't exactly turning up and chucking money at them now, desperate to invest in the fourth filed attempt to make a cargo airport out of a sow's ear).
3. Even if TDC thought that they could win on the "compelling case in the public interest" test, that site will be undeveloped for years if TDC pursues a CPO with RiverOak as their partner. That's years of TDC not getting millions every year in business rates and council tax. Years of not having new jobs in the area. No Council in its right mind can afford to take this kind of financial hit for such an uncertain outcome.
And, yes, we have read the latest document sent by RiverOak's lawyers straight to their tame pressure group, SMA. And, no, it doesn't change these facts.
A CPO with RiverOak is a risk. There is no certainty about the funding. There is no certainty that they can develop a successful airport on that site where so many before them have failed. The alternative use for the site carries no CPO risk and has investors and employers already keen to move in. It's a no brainer.
(Quoted from internet source)