Purpose

Report provides an update on the Berwick Maltings Theatre project including financial and programme status.

Decision

RESOLVED that Cabinet:-

(a)     accept £28.500m of grant funding from the Borderlands Inclusive Growth Deal and delegate authority to the Executive Director for Place and Regeneration, in consultation with the Executive Director of Transformation and Resources, to finalise and enter into the associated Grant Funding Agreement;

(b)     approve the allocation of £2.050m towards the Berwick Maltings Theatre Project, including £0.550m previously earmarked for the Berwick Visitor Gateway project, from the Council's Strategic Regeneration Projects Budget;

(c)      recommend that Council approve an additional capital funding allocation of £2.625m towards the Berwick Maltings Theatre project to cover the increased costs, noting that this increases the Council's total contribution to this project to £7.512m. The additional capital commitment of £2.625m would be funded by prudential borrowing;

(d)     recommend that Council approve the updating of the Capital Programme within the Council’s Medium Term Financial Plan to reflect the revised profile contained in Table 3 of this report; and

(e)     subject to Council approval in accordance with Recommendations (c) and (d), approve the appointment of Willmott Dixon Construction Limited and delegate authority to the Executive Director for Place and Regeneration, in consultation with the Executive Director of Transformation and Resources and the Portfolio Holder for Economic Development and Growth to enter into the Construction Services Agreement at a value of £28.575m for the construction work required to transform the Maltings Theatre and take all necessary actions to give effect to that appointment.