Decision details

This report seeks the approval of capital investment to refurbish and develop Red House, and the wider site, with a view to the council developing new commercial uses which will sustain the site in the council’s ownership, and continue to provide managed community access.  

RESOLVED –

1)    That the business plan, as set out at the exempt appendix to the report, be endorsed and that the commercial proposition be designed to cover operating costs in order to facilitate managed community access, rather than profit.

2)    That approval be given to the allocation of £600k from the One Venue Development Capital Baseline to fund the project, and reprofile the expenditure into the 2021/2022 financial year.

3)    That the frontline building recharge budget, currently funding Red House whilst it is held in the Land Bank, be made available to the project rather than the project funding costs through additional rent income.