Issue - decisions
Leisure Contract - Capital approvals and reserve use
10/09/2015 - Leisure Contract - Capital approvals and reserve use
RESOLVED (unanimously):
1) To fully approve the element of current capital budget of £7.635m for Bath Leisure Centre Refurbishment.
2) To fully approve the capital budget of £2.0m for potential Council costs associated with the delivery of the contract.
3) To fully approve the capital budget of £2.0m for Bath Recreation Ground Trust capital works.
4) To extend the use of the Invest to Save reserve to up to 6 years (rather than the previously approved 4 years) to optimise the smoothing of Council and Leisure Operator costs, and that this be repaid over a period of up to 10 years.
5) To increase the Leisure base budget by £175kpa to cover the ongoing cost of the annual payment to the Bath Recreation Ground Trust thus increasing the financial pressure on the Council which will need to be considered as a commitment as part of the 2016/17 budget.