Decision Maker: Finance and Performance Policy Committee

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: August 28, 2025

Purpose:

Content: 5.1 The Director of Finance & Commercial Services submitted a report providing details of proposed changes to the capital programme in relation to the Future High Streets Fund (FHSF) Events Central Scheme. At the meeting of the Finance & Performance Policy Committee of 18 August 2025 it was agreed that an item in relation to the Events Central scheme be deferred to be reconsidered at this extraordinary meeting. It was noted that funding was secured from the Department for Levelling Up, Housing and Communities (DLUHC) for the purpose of renewing and reshaping town centres and high streets in a way that improves experience, drives growth and ensures future sustainability. The Council are utilising these funds to proceed a programme of proposed FHSF works for capital interventions on Fargate. Following on from the public realm improvements on Fargate, the Events Central Building project has secured the purchase of 20-26 Fargate for the proposed delivery of a multi-use event hub building. It is envisaged the Events Hub will be a mixed-use hub for events, exhibitions, and performances accommodating 100-200 attendees, workspaces and facilities for all ages. Following the approval of the initial Outline Business Case, in March 2022, which estimated the costs of delivery at £6.9m the scheme fully designed was tendered. The costs returned from this exercise were unaffordable and there were concerns around exclusions and omissions which would have pushed costs up further. The scheme was retendered in July/October 23 with similar results and a higher cost quotation. Finally, a cost led design and build approach has been adopted, giving the Council more control and allowing officer to work with a nominated contractor to find the lowest budget achievable to deliver the required scope to meet the outputs required of the Future High Streets Fund application. Based on this agreed cost and improved risk approach, an application was made for additional Gainshare funding in order to increase the overall budget envelope. This funding was awarded in early August Members welcomed the recent detailed briefing on the matter, and it was recognised that there needed to be a way of ensuring that Finance and Performance Policy Committee Members are kept fully informed and briefed on capital schemes, in particular, when there are significant changes to schemes, such as in this case.  It was noted that officers were now working out the details of a new approach to achieve this.  Members went on to clarify issues around value for money; timescales between outline and full business case; potential for increased costs if no decision taken today; the proposed changes to SYMCA funding arrangements; process for applying for external funding; and the benefits of this scheme. It was agreed that a redacted version (excluding the confidential information) of the briefing provided to Members be published alongside the minutes of the meeting.     5.2 RESOLVED UNANIMOUSLY: That Strategy and Resources Policy Committee approve the proposed variation to the Capital Programme listed in Appendix 1 in respect of Future High Streets Fund (FHSF) Events Central Building.     5.3 Reasons for Decision     5.3.1 The proposed changes to the Capital programme will improve the services to the people of Sheffield     5.3.2 To formally record changes to the Capital Programme and gain Member approval for changes in line with Financial Regulations and to reset the capital Programme in line with latest information.     5.4 Alternatives Considered and Rejected     5.4.1 Several alternative courses of action are considered as part of the process undertaken by Officers before decisions are recommended to Members. The recommendations made to Members represent what Officers believe to be the best options available to the Council, in line with Council priorities, given the constraints on funding and the use to which funding is put within the Revenue Budget and the Capital Programme.