Punt Road Redevelopment | PUNT ROAD END | Richmond Tigers Forum
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Punt Road Redevelopment

MB78 said:
I was listening to my local radio station and Peggy was being interviewed. They asked her many questions. But what stuck out was she was asked her priority for Richmond. Peggy said another premiership. We don’t get tired of winning those.

But the other was was the Punt Road Redevelopment. Peggy said she has given Brendan that main strategic role and they are very busy getting all the required permits. And she hope it’s ready in the next 2 to 3 years.
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Covid has absolutely brought the Punt Road Re-Development to a grinding halt. Believe their view before Covid was they were hoping to commence at least part of the development by start of 2022, State Gov't had given us a 15.5m grant and the Fedral Gov't 15m and RFC who was was flushed with funds after our first two GF wins was going to access some of their $24.4m cash reserves with the balance of the proposed $60m project to be raised by other sources.
Bang comes Covid and I would say we now would have virtually NO cash reserves left? and due to uncertainty Peggy is now talking 3 years. :(

Here is excerpt from 2019 Annual Report:

Off-field the Club is reporting a profit of $4.1 million for the financial year ended October 31. The Club generated total income of $92.2 million, which represented an increase of 16% year-on-year. The Club is in a very sound financial position with cash reserves of $24.4 million.

Hope the $30m in grants cannot be used for anything other than the development itself.
 
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caesar said:
Covid has absolutely brought the Punt Road Re-Development to a grinding halt. Believe their view before Covid was they were hoping to commence at least part of the development by start of 2022, State Gov't had given us a 15.5m grant and the Fedral Gov't 15m and RFC who was was flushed with funds after our first two GF wins was going to access some of their $24.4m with the balance of the proposed $60m project to be raised by other sources.
Bang comes Covid and I would say we now would have virtually NO cash reserves left? and due to uncertainty Peggy is now talking 3 years. :(

Here is excerpt from 2019 Annual Report:

Off-field the Club is reporting a profit of $4.1 million for the financial year ended October 31. The Club generated total income of $92.2 million, which represented an increase of 16% year-on-year. The Club is in a very sound financial position with cash reserves of $24.4 million.

Hope the $30m in grants cannot be used for anything other than the development itself.
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Cash reserves at end of 2020 were $16M

 
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caesar said:
Covid has absolutely brought the Punt Road Re-Development to a grinding halt. Believe their view before Covid was they were hoping to commence at least part of the development by start of 2022, State Gov't had given us a 15.5m grant and the Fedral Gov't 15m and RFC who was was flushed with funds after our first two GF wins was going to access some of their $24.4m cash reserves with the balance of the proposed $60m project to be raised by other sources.
Bang comes Covid and I would say we now would have virtually NO cash reserves left? and due to uncertainty Peggy is now talking 3 years. :(

Here is excerpt from 2019 Annual Report:

Off-field the Club is reporting a profit of $4.1 million for the financial year ended October 31. The Club generated total income of $92.2 million, which represented an increase of 16% year-on-year. The Club is in a very sound financial position with cash reserves of $24.4 million.

Hope the $30m in grants cannot be used for anything other than the development itself.
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Not sure how much you know of financial markets old mate but if that 30mn in cash reserves had some exposure which I’m lead to believe it does , it May well be more like 40+ Mn in reserve end of this calendar year
 
BillyJean17 said:
Not sure how much you know of financial markets old mate but if that 30mn in cash reserves had some exposure which I’m lead to believe it does , it May well be more like 40+ Mn in reserve end of this calendar year
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Depends if the grant is sitting in RFC coffers or in a govt dept war chest to be paid only at certain milestones in the development?
 
22nd Man said:
Depends if the grant is sitting in RFC coffers or in a govt dept war chest to be paid only at certain milestones in the development?
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Having been involved a lot with both state and commonwealth Government capital grants it would be drip fed on agreed milestones and the spending would be acquitted against the grant with anything unspent being returned.
Spending Government Grant money on something else would be a big big problem for the Directors and management
 
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Sintiger said:
Having been involved a lot with both state and commonwealth Government capital grants it would be drip fed on agreed milestones and the spending would be acquitted against the grant with anything unspent being returned.
Spending Government Grant money on something else would be a big big problem for the Directors and management
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Yea I don’t believe that the reported reserves contain grants , FTF likely though that would be only a portion of the millions
 
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I'll preempt the bagging by saying this might all be a huge amount of kite flying on the part of a group of developers. .... so....

Just listened to the fella heading up the umpteenth proposal to redevelop the Flinders St railyard.... but bigger and beyond.
Somewhere in the vicinity of $30 billion private equity.

Part of their plan includes totally funding the renewal of Richmond train station. .... and he also threw in the partial bankrolling of any Great Southern Stand refurbishment.

Without any knowledge of the mob promoting this scheme. ...... I hope we at least reach out in their direction early in the piece, or Benny gets to whoever it is in government to ensure if anything ever happens, we're not left off the gravy train!
 
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The Big Richo said:
Didn't we make a small profit in 2020?

Where did 8 million dollars go?
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It hasn't gone anywhere. It was all in the 2020 annual report.

Profit reported was $0.2m.

Cash at start of year was $24.4m

Cash movements through the 2020 year were:
Cash from Ops = $3.6m (thats a terrific result)
Payments for PP&E = ($0.4m)
Payments for lease liabilities = ($0.7m)
Underlying cashflow = $2.5m
Net payments for investments = ($11.0m)
Net decrease in cash = ($8.4m)
Cash at end of period = $16m

Whilst cash decreased by $8.4m it has been pushed into investments, so we should look at both together to review the RFC cash position, which is $16m in cash and $11m in investments (as these will be liquid investments), so total is $27m up from $24.4m in 2019.

Its an increase not a decrease.

 
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