§ Lord Marlesfordasked Her Majesty's Government:
Whether the first call on funds from the proceeds of the sale of the Millennium Dome will be the repayment of moneys provided by English Partnerships or of moneys provided by the Millennium Commission. [HL1358]
§ Lord Falconer of ThorotonIn accordance with the legal agreement between English Partnerships and the New Millennium Experience Company dated 12 January 2001, the first call on the proceeds of sale of the Millennium Dome will be for costs defined in the agreement as "allowable costs". These include various costs associated with English Partnerships's management and maintenance of the Dome, including decommissioning of the contents, and other categories of costs payable by English Partnerships. In addition, "allowable costs" includes all legal costs, fees and expenses reasonably and properly incurred by either English Partnerships or the company to enable a sale to be achieved: the bulk of these costs have been incurred to date by English Partnerships.
§ Lord Marlesfordasked Her Majesty's Government:
What is the net sum, after expenses of sale, raised from the sale of the contents of the Millennium Dome; and how this sum has been used. [HL1362]
§ Lord Falconer of ThorotonThe net sum raised so far from the sale of assets by the New Millennium Experience Company is £3.7 million. The sum has been used to defray the New Millennium Experience Company's wind-down costs, reducing the net amount of grant needed from the Millennium Commission.