Next big step towards stadium remodelling: Chemnitz City Council confirms draft contracts
The next big step on the way to the new stadium on Gellertstraße: on Wednesday afternoon, the Chemnitz city council confirmed the necessary contractual regulations for the realisation of the major project with a clear majority.
Following the decision in principle last autumn, the details of the contractual relationship between the city, GGG and Chemnitzer FC have now been regulated with the resolution: The municipal Grundstücks- und Gebäudewirtschafts-Gesellschaft m.b.H. (GGG) will act as the developer of the new stadium and will take out a loan totalling a maximum of €25 million for the construction. The city, as the owner, which is collateralising and refinancing the loan, is leasing the stadium to the CFC. The amount of the lease is staggered according to league affiliation. Chemnitzer FC also finances the entire operation of the stadium.
The contracts for financing and collateralisation still require the approval of the Saxony State Directorate.
The stadium is to be built with a budget of 25 million euros. The city assumes that it is entitled to deduct input tax for the conversion, as is the case with comparable construction projects in other cities. A corresponding application for binding information has been submitted to the responsible tax office.
The new stadium on Gellertstraße is due to be completed by 2014. The masterplan is currently being drawn up by Speer & Partner.
"I am pleased that we have now finalised the contracts together with the city council, as they are the prerequisite for moving forward following approval by the regional authorities," says Lord Mayor Barbara Ludwig. "The fact that the resolutions have been passed before the start of the CFC season will hopefully spur the team on on Saturday."