Content

RESOLVED::
Cabinet resolves, subject to approval of recommendation 6
below:
0.   
The Regeneration and Development Panel are kept up to date on
progress and receive regular updates on the project.
1.   
To proceed with the St George’s Guildhall & Creative Hub
(“the Major Scheme”) based on the RIBA Stage 4
design.
2.   
The total spend of up to £30.5m to deliver the Major Scheme
is authorised, to be financed in accordance with the Finance
Strategy at Appendix 6 (Exempt), which includes up to £16.0m
of borrowing in accordance with the Council’s Treasury
Management Strategy.
3.   
The award of the contract to deliver the Major Scheme (“the
Main Contract”) to ‘Bidder A’ is approved.
4.   
Authority is delegated to the Chief Executive in consultation with
the Portfolio Holder for Business to approve material changes to
the scope of the Major Scheme and/or variations to the Main
Contract that are within the approved budget and in accordance with
the Local Assurance Framework for this project.
5.   
Authority is delegated to the Chief Executive to apply for and
accept external funding, whether via grants or donations, for the
Major Scheme, which, when received, shall be applied towards the
Major Scheme and to reduce capital borrowing where outstanding.
 
Recommendations to Full Council:
 
6.   
To amend the Capital Programme for the Major Scheme up to
£30.5m and to amend the Medium-Term Financial Strategy in
accordance with the Finance Strategy at Appendix 6 (Exempt)
 
Reason for
Decision:
 
To deliver the
transformational St George’s Guildhall and Creative Hub Major
Scheme, supporting the Council’s commitment to heritage,
culture, and economic growth. The Major Scheme aims to help grow
local businesses, revitalise the town centre, and enhance the
leisure offer in the historic heart of King’s Lynn, in line
with:
 

·        
West Norfolk Economic Strategy (2024),

·        
Cultural & Heritage Strategy (2025),

·        
Corporate Strategy (2023), and

·        
Town Investment Plan (2021).
 
 The Major Scheme will meet the agreed outputs and
outcomes of the Towns Fund Programme, as endorsed by the
King’s Lynn Neighbourhood Board (formerly the Town Board) and
the Ministry of Housing, Communities and Local Government (MHCLG).
The Major Scheme will deliver a long-term, sustainable operation to
this nationally significant cultural heritage site in addition to
addressing the long-term costs liability that the site already
represents to the Council. According to the updated Business Plan
and Economic Impact Assessment, the Major Scheme is expected to
generate circa £30.8 million in economic benefit and create
117 jobs over the initial 15 years period and following this
payback period, the Major Scheme will continue to generate income
and attract interest and visitors, for many decades to come.