further correspondence
I sent hose people who replied on the previous page the following
Thank you for your prompt reply and help in clarifying this matter. I have two concerns myself. That I think are of particular importance.
1 The financial guarantees in relation to the expected returns of the project.
The saleable value of the completed accommodation is expected to be in excess of 60 million pounds.
The developer SFP Ventures Partners Ltd is a British Virgin Islands company and therefore not accountable to UK authorities in any way whatsoever.
The land valuation and guarantees appear to be inadequate for the money that we hope to receive with respect to the sale of the accommodation nor do they appear to be protect against any financial losses during the construction period.
2 The way the height and size of the building impact on the area does not seem to have been accurately measured by anyone.
The reasons for this are that large detached concrete buildings do not usually have a public footpath in a conservation area next to their roof level so height variations of a meter or so are not noticeable.
My own calculations based on the site survey and plans submitted by the developer make the maximum height of the building 3.4 meters above the footpath surface on the cliff top. It is difficult to completely accurate due to the radical changes that will have to be made at ground level, because of the size of the building changing the road and promenade layout so this may be inaccurate by a meter or so in either direction.
My calculations relating to the lines of site suggest that it will no longer be possible to see the shoreline when looking from the cliff top over the lowest part of the development or the cliff top from the shoreline.
The planning department reckon not more than three meters above the cliff top based on holding a scale ruler next to the side elevation.
No calculations appear to have been attempted by the planning department with relation to the lines of site.
I have recommended that the opinion of an independent qualified architect be sought due the large impact that small variations in the angle of the view will have.
Kind regards Michael Child
You are probably only too familiar with the following but I have added them in case you are not.
1 The planning and design statement for the development, on page 9 says the following.
"The views of Wellington Crescent at the top of the cliff will be retained when viewed from the harbour and the shore line, with the proposed scheme set below the cliff top.
When viewed from ground level along Wellington Crescent the buildings will not be visible as they are below the cliff face. When viewed from the cliff edge, the buildings will provide an extension to the gardens with the roof terraces. It will also enhance the existing views replacing the unsightly vacant land. The roof design will provide architectural interest whilst allowing views of the sea to remain."
2 A BVI company can be used for holding land and buildings for the purpose of development and or generating rental income or realising capital gains. Strategies can be employed in order to minimise or eliminate taxes in the country where the property is located.
No public record is kept of the identity of shareholders or directors
The books and records of the company may be maintained anywhere
No accounts or annual summaries have to be filed with the Government
No taxes on dividends, interest, royalties, capital gains, inheritance, gifts or any other income derived outside the BVI;
No requirement to file annual return s or financial statements;
No requirement to hold annual general meetings of shareholders or directors;
Full exemption from taxation on any business activity or transaction carried on outside the BVI;
Complete business privacy and confidentiality;
Minimal capital requirements and minimal registration fee on capital;
Nominative or Bearer shares at owner's option;
Companies are allowed to have sole director;
The shareholders, directors and officers may be of any nationality and may be resident of any country;
Neither the director nor the officers need be shareholders;
Directors and/or officers can be either corporate entities or natural persons;
There is no requirement to register initial, or ongoing, changes in director(s) and/or officer(s);
A company incorporated in the British Virgin Islands has the same powers as a natural person;
No disclosure of the beneficial owners is required
No Company Secretary is required
No local Director is required
Directors and Shareholders meetings may take place anywhere (even via telephone)"
Here are their replies
Subj:
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Re: (no subject)
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Date:
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17/02/2004 20:24:48 GMT Standard Time
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From:
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jobooth@tinyworld.co.uk
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To:
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MichaelChild@aol.com
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Sent from the Internet (Details)
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ÿþ
Dear Mr Child,
I have noted the points you raise, and will ask the appropriate Cabinet member and officers for a response.
I can assure you that due diligence is of the utmost importance to the Council.
Yours sincerely,
Cllr Jo Booth
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