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RAILWORLD: 'Pay up or else' says city council
THE city council has told Railworld to settle a £125,000 debt within six months, or its land will be reclaimed.
THE city council has told Railworld to settle a 125,000 debt within six months, or its land will be reclaimed.THE city council has told Railworld to settle a 125,000 debt within six months, or its land will be reclaimed.
But today, Reverend Richard Paten, the attraction's chairman, said there was no chance of the deadline being met and that he feared the organisation may be forced to close.
Mr Paten (70), said: "This could destroy our charity, and I think we will give up if they reclaim our land."
As reported in The Evening Telegraph, Railworld, in Oundle Road, Woodston, borrowed 100,000 from Peterborough City Council in 1988 to pay for a footbridge which spans the River Nene and connects its two sites on either bank.
The centre, which promotes rail and public transport, originally tried to raise the cash to repay the loan, but, when attempts failed, the city council postponed the deadline for repayment. Since then, it has accrued a further 25,000 debts in interest.
In August, Cllr Geoff Ridgway, cabinet member for finance, announced a change in policy and said the loan would be "aggressively pursued".
At an emergency meeting between the two sides earlier this month, the council said if Railworld could not find the money, it would take over the 12-acre site and write-off the debt. At the same time, council chiefs offered to rent the land back to Railworld for a "peppercorn" fee.
However, Railworld has now sent a cheque for 25,000 to the city council, and another meeting will now be held next month to thrash out the problem.
Mr Paten added: "We have been treated like cowboys. We can only try to shame the council into being more reasonable. "We just hope there will be a compromise."
Cllr Geoff Ridgway, cabinet member for finance, said: "We do not want to take over Railworld.
"We want the debt to be repaid to the council either in money or through the land, which we believe would take care of the loan.
"Railworld would still be able to carry on trading if it wanted. We are not out to close it down."
Mr Paten is due to confront council leader Neville Sanders at a full council meeting next Wednesday.
Museum for public
TEAM of rail enthusiasts first began developing the site on the banks of the River Nene in 1985.
They wanted to turn the former-coal yard into the Museum of World Railways. In 1988, they borrowed 100,000 for a footbridge from the council.
However, the museum never opened to the public, and, in 1992, the trustees decided to change its name to Railworld an entertainment and exhibition centre about environmentally-friendly transport.
On the north bank of the site, a wildlife haven and environment centre is being created by a team of dedicated volunteers.
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