To accept the Stronger Towns £5m funding, and approve up to a further £0.5m of expenditure related to the completion of the design stage of the project, and the appointment of a Design and Build contractor following procurement.

That:

a)    To accept the £5m (capital) of Stronger Towns funding offered by government via the Accountable Body;

b)    To approve up to a further £0.5m of expenditure from the allocated capital programme required to complete the design stage of the project;

c)    Authority is delegated to the Corporate Director for Economy and Environment, following consultation with the Cabinet Member Commissioning, Procurement and Assets and Deputy S151 Officer, to make all operational decisions required to complete the design stage of the project, and to appoint a contractor on a Design and Build basis (initially completing the design stage) following the conclusion of the procurement process; and

d)    Authority is delegated to the Corporate Director for Economy and Environment, following consultation with Deputy S151 Officer and the Cabinet MemberCommissioning, Procurement and Assets, to submit a £5m grant application for the project to the National Heritage Lottery Fund.

1.              Not to progress the project, or implement the decision to spend in relation to funding which has been awarded to Herefordshire Council by Stronger Towns.  This would mean the significant economic challenges identified in the Hereford Town Investment Plan would not be addressed.

2.              The project is scaled back to a reduced funding envelope. It is unlikely the scale of change required could be achieved from a project so significantly reduced in scale.

3.              The council could seek alternative funding. The council has already approved the submission of the Stronger Towns business case and funding has been awarded. In addition, the council have amended the capital programme and approved an £8m funding contribution from capital receipts reserve.  No other funding routes of the scale required are available at this time.