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Liverpool Council has commissioned a report into the risks of its proposed deal to help fund Everton’s new stadium - but won’t reveal its contents yet.

The ECHO has learned the authority’s soon-to-depart head of finance Becky Hellard asked for leading accountancy body the Chartered Institute of Public Finance and Accountancy (CIPFA) to review the risks of the council’s involvement with the Bramley Moore Dock scheme.

We can confirm that such a review took place and issues were raised by CIPFA into the authority’s plan - which will involve borrowing around £280 million to help Everton pay for its new ground.

But the council said it cannot reveal the contents of the report as it is “commercially confidential.”

The authority says the report is one of many it is having produced looking at the viability of the deal - and said while it is currently confidential, the full picture will be presented to the public before any final deal is done.

The ECHO understands that the CIPFA report was looking at an initial proposal for the stadium deal several months ago - and this has now been amended and changed as the council's plans have evolved.

The authority did however reaffirm its view that the ‘once in a century’ deal will be a net gain for the city and will create thousands of jobs and homes in the area around the stadium.

The council said it is “perfectly normal” to seek external advice for large regeneration schemes and said the report could not be made public because it is “commercially confidential.”

But opposition leader Cllr Richard Kemp has accused the authority of “deliberately suppressing” the report.

He also claims he has been stonewalled by the council in terms of getting sight of the CIPFA guidance.

(Image: Peter Byrne/PA Wire)

He said: “When I asked a direct question about the existence of a report my question was avoided. It has taken considerable effort by the Liverpool Echo to get the Council to acknowledge that the report even existed.

“However CIPFA, the highly respected centre of public finance in the UK, has confirmed that the report exists and that it has raised a series of questions that need to be addressed.”

He also questioned whether the fact that Ms Hellard’s departure as the council’s Director of Finance and Resources was announced just days after the report arrives was “a coincidence.”

(Image: Jason Roberts)

Cllr Kemp added: “This is without a doubt the single biggest commercial venture that the Council will ever undertake.

“It is vital that all Councillors and the taxpayers of Liverpool who will underwrite this debt must know all the facts about it. That is why I challenge the Council to come clean and publish the CIPFA report so that we can have a full and frank debate about a project which will have a major impact on the Council’s finances”.

Responding, Liverpool Council explained why the report could not be released and reaffirmed its view that the Bramley Moore Dock deal will represent a major financial benefit to the council and the people of Liverpool.

(Image: Peter Byrne/PA Wire)

A spokesman said: "It's perfectly normal to seek external advice and guidance from outside professionals into large regeneration schemes like the Everton stadium project.

“It is important to note CIPFA is one of a series of outside experts that we consult as we carry out our due diligence. This is perfectly usual in a scheme of such significance.

"Clearly, given the deal with the club has not yet been finalised, we cannot disclose information that's commercially confidential.

"What we have already confirmed, however, is that the deal represents a win-win for both the club and taxpayer. The income will create a significant revenue stream that will then be ploughed back into frontline public services.

He added: "The Everton stadium will lead to a much wider economic regeneration of the north Liverpool dockside and is the centrepiece of the '10 Streets' redevelopment. It's genuinely a once-in-a-century opportunity and will lead to the creation of thousands of new jobs and homes in the area."