St Modwen delays elsewhere, demands money from council

We'd already heard that St Modwen (the company behind the Arcade site plans) was delaying developments elsewhere. But the incredible news is that according to a local newspaper story St Modwen say their Hatfield town centre plans will be delayed by two or three years... unless they council makes "a substantial investment" to help make up for the flailing property market.
Is this the shape of things to come in E17? We've already seen written proof that Waltham Forest council is going to receive barely more in the St Modwen deal than the £4m they have already spent on the Arcade site. If they spend any more, they will have made a loss... in order to bring an unwanted tower blobk to our High Street.