Are local communities living above their means ? This is indeed what the Court of Auditors believes, in a report dealing with the public finances of the communities, published on the 14th of October. 3 % per year, this is the average progression of the local public finances, indicates the 500 page report. It questions staff management as well as the indebtedness of the communities.
Grenoble’s case is emblematic given the amount at stake. The necessary loan to build the Alps’ stadium has indeed been indexed to the Swiss franc, a safe haven with an interest rate reaching 18 % during the summer 2010. Thus, the global cost of the Alps’ stadium, which should have been close to 25 million EUR, has reached 80 million EUR, three times more than planned. And there is no chance that its takings will balance the scales.
Initially designed to welcome the matches of the GF38 (Grenoble Football) in first league, the stadium can host more than 20,000 people. Yet, the club has since been relegated in CFA 2, fifth national division, and has now on average only 2,000 spectators. The lack of an athletics track and the bad soundproofing make the sports equipment unattractive, which explains the annual shortfall of more than 500,000 EUR.
Ironically, this report by the Court of Auditors was signed by its president, Didier Migaud, the former head of the Métro, who had led the project, in spite of the opposition of a large number of Grenoble residents.
Valentin Dizier
Designed to welcome first League matches, the stadium is underused
Translation by Sandra Bailly, Translator / Desktop Publishing specialist
Phone : +33 (0)6 95 87 15 27 – email : sandra.bailly79 [at] gmail.com
