Prague 11 should leave the project and keep only the “control action”
11/25/2021 6:20:00 PM
Commentary on the current situation around the completion of the Ice Sports Complex in Prague 11.
The construction project of the Ice Sports Complex is accompanied by a lot of disappointments, repeated non-compliance with agreements and contractual arrangements by the project partner. Mutual trust has been broken and this cannot be taken back. For this reason, as representatives of the YES movement, we mostly rejected the offer of ALS Investors, as to purchase 30% of the shares of the City of Prague 11 in AR DELTA, as
In practice, this would mean that Prague 11 will recover only part of the money already invested and will continue to participate in the construction of the complex. We have long been pushing for the city district to withdraw from this unfortunate project. City Hall should try to get the money it put into the project.
Another big problem comes at the beginning of January. The last, repeatedly postponed, deadline for the approval of the arena expires. At the moment, we all know for sure that on January 1, 2022, the Ice Sports Complex will not be approved and the deadline will not be met again.
We therefore call on the mayor of the Prague 11 district, Jiří Dohnal (Pirates), to urgently start resolving the situation. We asked for a council to be convened to discuss the unfortunate project. However, the mayor did not convene the council if the situation did not express anything.
As representatives for YES, we are ready to support such an offer of ALS Investors, as, which will include the exchange of a 50% stake in the City of Prague 11 in AR DELTA, as, for so-called “inspections”, for a contractual price of CZK 35 million.
Ownership of the “control share” will not establish the claims of the city district for financial performance against AR DELTA as, but will enable the effective promotion of the city district interests, especially in relation to the future use of the area for schools and the public from the South City.
In our opinion, the city district should also have the right to nominate its representative to the Supervisory Board of AR DELTA as
In the event that the future offer will be submitted by ALS Investors, as in the above-mentioned parameters, the YES Club of Representatives is ready to support the extension of the completion date to September 30, 2022. However, the condition is that the future offer and extension in one resolution, they make a public commitment by at least 23 representatives.