Bank Rescues Car Parks

The Caja Rural has signed a deal with the Town Hall, whereby they will extend credit to those that wish to buy a parking space in the two controversial, underground car parks.
Caja Rural will extend an 8-year loan for aspirant purchases of places in the San Cristóbal and Velilla projects, which cost between 15,000 and 18,000 euros (Or, put another way, and by mere coincidence, exactly 2.5 and 3 million pesetas).
The Mayor and the Business Director of the savings bank, Abelardo Gil signed the deal on the 6th of August to try to get the 700 parking slots sold – probably explains why the previous building companies ran out of money and dropped the project.
The savings bank is putting aside a total of 12.5m euros for these loans under ‘very special conditions,’ one of which is a 100% on the necessary capital at an interest rate of the Euribor + 2.5%. According to Sr. Gil, that’s 3% lower than normal for these types of credit.
But… wait a minute… 700 parking spaces for private use? So, how many will be left for public use – you know, anybody that’s visiting Velilla or San Cristóbal to use the local businesses. What about tourists? Both car park projects have destroyed all the free parking that previous existed on the surface, which will probably not be replaced. Hellooo?

Leave a Reply

Your email address will not be published. Required fields are marked *