Capital Projects

As set out in its Business Plan, since 2012 the Levy Board has had a specific objective to provide loans to racecourses and others. New loans are granted on four-year terms, carry an applicable rate of interest and an administration fee. The following priorities for lending are applied in assessing submissions from racecourses:

(1) Capital improvements needed as a result of BHA/legal requirements;
(2) Non-revenue-generating loans for horse specific projects e.g. turf, drainage, stabling;
(3) Capital improvements for non-horse structures;
(4) Revenue-generating loans;
(5) Loans to parties other than racecourses for the improvement of horseracing or other Levy Board responsibility;
(6) Racecourse loans for non-horse specific projects.

Loan applications in 2015/16 totalled £2.0m.

Capital Credit Scheme

The Capital Credit Scheme enables racecourses to accrue all or part of their grant payments from the Levy Board which can then be drawn down by racecourses for future use to support capital projects, including meeting their loan repayments.

The principles as to which projects are eligible for Capital Credit use are the same as for racecourse loans. The agreed criteria of the Board’s priorities in assessing applications are:

a) capital improvements needed as a result of British Horseracing Authority/legal requirements;
b) non-revenue-generating loans for horse specific projects e.g. turf, drainage, stabling;
c) revenue generating projects;
d) non-horse specific projects.

All authorised users of HBLB's Racecourse System can download a Capital Credit Scheme guidance note and Capital Credit project application template on the 'Other Information' tab of the Racecourse System's dashboard. 

New Capital Credit Projects 2016
Approved Date Racecourse Description Value
March 2016 Salisbury Refurbishing the Bibury Bar. £144,964
March 2016 Newbury Racecourse redevelopment project.  £1,731,470
May 2016 Thirsk Implementing an enhanced WiFi service. £66,971
May 2016 Wetherby Demolition and replacement of the Old Members' Stand.  £1,057,584
June 2016 Ascot New unsaddling enclosure £695,997
September 2016 Chester The County Stand project. £697,672
September 2016 Chester To purchase the Watergate Inn pub. £586,037
September 2016 Chester Winning Post Enclosure and the Paddock Club project.  £52,601
September 2016 Pontefract Upgrade work to the Parade Ring. £150,000
September 2016 Taunton Installing horse bays in the wash down area. £30,823
November 2016 Leicester The construction of a machinery storage area. £40,450
December 2016 Thirsk Extending and refurbishing the weighing room and associated riders' facilities. £400,786
December 2016 Catterick Bridge Implementing an enhanced WiFi sevice.  £56,547
December 2016 Catterick Bridge To construct a new horsebox park. £271,160
December 2016 Catterick Bridge  Refurbishment of the east entrance and toilet block. £135,612
December 2016 Catterick Bridge Refurbishment of the west entrance and office block. £898,203
    Total for 2016 £7,016,877
Last Updated: 05 January 2017