TEESSIDE
Money for nothing
YEARS of mismanagement and giveaways to a couple of local businessmen have landed regional mayor Lord (Ben) Houchen’s
(pictured)
Tees Valley Combined Authority (TVCA) in a perilous financial state, its latest board papers reveal.
The problems stem from the South Tees Development Corporation it owns and which, until recently, Houchen chaired. As Eye readers will know, it has struck deals with Teesside developers Chris Musgrave and Martin Corney – notably giving them an option to buy land at £1 per acre – that hand them huge, risk-free profits from selling land on the UK’s largest regeneration site when it is remediated at public expense.