Kirklees Council has pledged to help fund another major part of a massive Huddersfield leisure complex.

The council has revealed it will loan a substantial sum to set up of the Snow Sports Centre for Huddersfield’s HD One complex.

This follows its pledge to provide a £9m loan to build a Radisson Hotel on the site next to the John Smith’s Stadium.

The HD One complex is an ambitions £100m regeneration plan with a snow slope, restaurants, shops, leisure and hotel facilities.

It is set to create hundreds of jobs and attract thousands of visitors to the town, with the Snow Sports Centre a core feature of the HD One project.

While no figure for the latest loan has been made public the Examiner understands it is around £4m and Kirklees Council say HD One will generate “substantial” business rates once complete that would be ploughed into council services.

Clr Graham Turner, Cabinet member for Resources, said: “Significant progress has been made, we expect tools in the ground this summer and it operational by 2020.

“It’s an example of the public and private sector working together to invest and create a fantastic facility for Kirklees.

“It will bring visitors from far and wide and be a magnificent asset for our residents.”

Kirklees says it is “speculating to accumulate” with the project, the loan would be repaid and the terms mean there is an extra margin to cover risk.

Kirklees Cabinet had already agreed to offer a secured debt in principle last September, but after talks behind closed doors since then the terms needed altering.

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Cabinet members have now agreed to fund the creation of a company to develop and manage the Snow Sports Centre.

Kirklees says: “The HD One development as a whole will create substantial Business Rate income and employment opportunities, subject to due diligence and subsequent advice and negotiation. These proposals are the safest and securest way of proceeding to make the proposed loan while minimising the risk to the council.

“Facilitating the loan will ensure construction of the Snow Sports Centre which is the core attraction of the wider HD One.

“The HD One development as a whole will create substantial Business Rate income and employment opportunities but would not be viable without this core attraction.”

Kirklees’ cash will fund the creation of Special Purpose Vehicle (SPV) company - a way of setting up and financing a project free of connection to pre-existing obligations.

Council papers say it means the loan will be secured in the assets of Kirklees Stadium Development Limited (KDSL) in the early stages and against the Snow Sports Centre once up and running. The loan will be given at a rate of interest that reflects the council’s costs of borrowing and a suitable margin to cover risk.

KDSL is a joint venture between Huddersfield Town, the Giants and Kirklees Council.