FINAL PAYMENT

14 July 2005

Swansea taxpayers are being asked to pour another £337,000 of their money into finishing off the city's showpiece stadium at Morfa. It has emerged there isn't quite enough money in the kitty to complete some of the work.

Councillors were this afternoon being asked for the additional cash on top of millions already poured into the scheme

.Councillors insist that the extra money is not a large sum and say it will only be used as a fallback in case of any last-minute hiccups.But agendas for today's meeting say £337,000 is needed to complete the fit out.The stadium itself has cost £27 million. The council agreed a £2 million loan as recently as March to help after costs for the overall scheme including new roads and parking suddenly went up. Now thousands more are being asked for.

The entire bill for the stadium which will be the new home for both the Swans and the Ospreys football and rugby clubs has been paid for by the council. Much of it has come from a deal to develop the Morfa Retail Park alongside it. Coalition spokesman Councillor Rene Kinzett said today that the stadium would soon pay back the money. Sporting and music events are expected to bring millions to the city when the new site opens.Councillor Kinzett said: "It is not a great deal of money but it will give us some breathing space.

"This is just to ensure the stadium gets a cracking start without any last-minute emergencies. It would be a shame for the stadium to have any cutbacks at this crucial stage of development.

"We don't want to penny- pinch as this site is going to pay dividends to the city in years to come."It is a loan and the money will come back to the council as the site is used in years to come."

Members of the Cabinet were set to decide whether to go ahead with the additional loan today.I

n a report to councillors, the authority's chief accountant Roger Pike said: "The increase of £337,000 is required to complete the fit out and to maximise income.

"The business plan provides for the repayment of the additional loan costs."A Swansea Council spokesman added that the money would be repaid.

He said: "The loan is part of the on-going plan to re-fit the stadium and create one of the finest venues of its kind in Europe."It is a loan agreement and, therefore, the council will be repaid by the stadium management company."

The much-admired stadium which opens on July 23 has had a number of problems in recent months.The boss's chair still remains empty since chief executive Tim Howell sensationally quit last month.

His surprise departure left the management team facing unexpected challenges in the run-up to the showpiece opening of the ground.

There has also been concerns raised about parking. A sponsor who wants to pay for its naming rights has also still to be found.

Swans fan Tryst Jones, of Quarr Road in Clydach, said: "I still think it is a brilliant venue. The extra money is needed and I am sure it is not a lot for the council as part of its overall budget."