RESOLVED
1) Having noted the updated information relating to the capital cost of the project, the operating income and the return on the investment referred to in section 5.3 which is outlined in the Appendix, that the continuation of the project be approved, subject to consultation with the Cabinet Member for Commercial Services and her special adviser.
2) That £88,500 of the allocated budget be released to appoint an architect and design team consultants to proceed to planning stage and to tender for the construction of the Centre; and that a further report is to be presented to Cabinet on the outcome of the construction tender process.
3) Following the completed tender process for the operational management that contractor A in the appendix section three (exempt information) be approved as the operational management company, subject to the eventual delivery of the project.
RECOMMENDED TO COUNCIL
Having noted that the total estimated cost of the project is £6,245,860 (details in appendix section 1.0 (exempt information)), that the additional budget of £2,224,860 be allocated from capital reserves.