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Decision details
Colston Hall
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
Purpose:
Colston Hall Phase II funding
decision.
Decision:
· To endorse the Bristol Music Trust application for Arts Council funding of £10m, to support refurbishmentof Colston Hall and be involved in all third party grant funding applications, on the basis that redevelopment, with ACE support provides the best value option for the development of this Council
owned asset.
· As the Accountable Body and freeholder of the building, in accordance with Arts Council requirements,underwrite the project. Pending receipt of further external funding, if required, to provide additional funding primarily through the option of a loan facility repaid via BMT’s revenue resource.
· To note that if all funding falls away the Council is the funder of last resort which will impact upon the Council’s capital programme.
· To authorise the Service Director Economy and the Director of Finance in consultation with the Cabinet member for Culture, to enter into a conditional agreement with BMT which will contractually oblige BMT to continue fundraising until all necessary funds have been obtained and that further guarantees that all necessary funds will be transferred to the Council as senior debt, so that the best economic and cultural outcomes can be achieved for the City.
· To authorise the Service Director Economy to appoint the original design team to develop the technical design for Colston Hall Phase II up to RIBA Stage 4.
· To authorise the Service Director Economy to undertake an OJEU compliant procurement process to procure a contractor to deliver Colston Hall Phase II.
· To note further Cabinet approval will be required to award and enter into a construction contract with the preferred contractor and appoint the original design team as required to deliver Colston Hall Phase II.
· To note the requirement for the Service Director Property to either; exercise the option to allow Bristol Music Trust to extend their existing lease to a minimum 30 year period or enter into a new lease agreements upon completion of the project for the buildings and for Trenchard Street Compound, should the Council enter into a construction contract with the preferred contractor.
· To note Officers will review the capital programme approved at full council to facilitate the possible funding needs and bring this back to Cabinet as and when a decision is made to enter into a construction contract.
· To note the Service Director Economy and the Director of Finance will review the business plan to ensure resilience.
Report author: Abigail Stratford
Publication date: 19/06/2017
Date of decision: 19/06/2017
Decided at meeting: 19/06/2017 - Cabinet
Accompanying Documents: