Content

Cabinet:

(1)         
noted the programme and construction update that advises of
practical completion in late September 2024;

(2)         
noted the initial proposals and programme for the Welcome Festival;
and

(3)         
agreed and noted the revised project budget as identified in the
exempt Appendix 1 of the report.
 
Options & Alternatives Considered

The current position reflects actual discoverables on site and changes introduced
following consultation with stakeholders to ensure that the
function, heritage importance and operation of the theatre to
achieve business case assumptions are not compromised.

Given the complexity of the construction works to best protect the
delivery programme, budget and the projects wider objectives, it is
considered that agreeing a formal extension of the contract with
the contractor delivers the best outcome. Not agreeing a formal
extension was considered but poses the risk of further delay,
increased budget pressure and potential contractual
dispute. 

Officers continue to mitigate the impact of the additional costs
and have been successful in applying for grants and reviewing and
negotiating costs with the contractor.