Issue - decisions

Resolved:  That Executive:

(i)           Note the business case and cost estimates for the scheme indicating a capital budget requirement of £10.19m to be prudentially borrowed, and a potential increase to the net revenue budget of £180k.

(ii)          Agree that the detailed business case be presented to Executive in February, setting out the actual budget requirement for delivery.  Executive and Full Council will be asked to take a final decision and make the relevant budget provision, following further work to confirm the budget requirement.

(iii)        Agree to the marketing of the restaurant unit and securing a pre-let agreement for a 25 year commercial lease.

(iv)        Agree the commencement of the procurement of a service contract for the operation of the business club, office venue and cafe.

(v)         Agree the submission of Planning and Listed Building Consent applications.

(vi)        Agree that the RIBA stage 4 detail design (construction information/specification), including for value engineering to potentially reduce project costs, proceed.

(vii)      Agree that the opportunities for securing Local Growth Fund monies with both the regional LEP teams continue to be explored.

(viii)     Agree that the procurement of a construction contractor, through an EU compliant process, commence.

(ix)        Agree the draw down of a further £350k from the capital budget already allocated to the project to fund the planning application and the RIBA stage 4 design work.

Reason:     To ensure the future viability and effective re-use of the

Guildhall as one of the city’s most significant historic buildings, through the creation of a vibrant business and civic venue, with supporting commercial development on the riverside.