The Belfast City Council claims that the money Nordic will bring to the city is crucial for fixing infrastructure and helping with taxes - all very important goals. So isn’t it also crucial to make sure Nordic has the money?

Nordic has stated from the beginning “once we have the permits we’ll have the money”. They’ve had their permits since December of 2020. Please share evidence with the taxpayers of Belfast that Nordic is financially sound, before taking this legally expensive step of attempting to take private property through eminent domain.

How many of the Permit Conditions requiring “Evidence of Financial Capacity” has Nordic met to date?

Here is a brief summary of the Planning Board conditions: Prior to the start of construction Nordic shall submit evidence of sufficient funds solely designated for this project or that it has been granted a line of credit or a loan by a financial institution authorized to do business in this State or evidence of any other form of financial assurance. Such evidence must, at a minimum, include an updated time schedule for the development, updated cost estimates for the project, a cost-loaded schedule for all construction, and the identification of all costs necessary to comply with all permit approvals from the City of Belfast.

Nordic must demonstrate that the proposed financing is either clearly linked from the financing institution to Nordic or that sufficient funds have been set aside and specifically dedicated for the proposed development.

Show us the money.

Sally Brophy lives in Belfast.