Horserace Betting Levy Board

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Current Document: Capital Projects

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Document text:
The HBLB operates a revolving Capital Fund totalling £51.0m to support improvements at racecourses through interest-free loans. Outgoing loans and repayments are planned to average £10.0m per annum. The HBLB each year, in its Policy Statement, provides Policy Objectives under which racecourse loan applications will be assessed.

In 2008/09, the HBLB approved, by way of loans, £13.5m towards capital projects at racecourses and capital grants of £7.75m for use in racecourse improvement schemes.

At its 2008 Strategy Review meeting, the HBLB agreed, in assessing priorities, to seek to direct funds to improve facilities for the general public, particularly for innovative projects and those aimed at providing for families and young racegoers. It will continue to accord a high priority to projects connected with the improvement of the track, and working areas, such as weighing rooms, stable yards and hostels. Priority will also be given to projects relating to safety and integrity.
 
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