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.
|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|