Decision Maker: Deputy City Mayor - Culture, Leisure, Sport and Regulatory Services
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
To provide up to a further £500k to Leicester Arts Centre Limited (Phoenix) in order to enable the delivery of the Phoenix 2020 project that will extend the current offer and enable the charity to become more financially self-sufficient.
To approve a grant of up to £500k to Leicester Arts Centre Ltd (Phoenix) to support the delivery of the Phoenix 2020 project, on the basis that if any of this sum is not required to deliver the scheme it will be retained by / repaid to the Council.
To support Leicester Arts Centre Ltd (Phoenix) to address a funding gap and enable them to appoint a contractor so the project can proceed at the current tendered cost and without further delay.
The remaining funding gap will be filled by additional support of £500k from Arts Council England who awarded £4m towards the scheme in 2019.
To do nothing would likely jeopardise the scheme overall. Delay will likely mean existing funding support would fall away. A European funding programme (ERDF) award for £0.5m is conditional on the scheme progressing now. Further delays will also likely mean further cost increases to allow for building cost inflation as the current contractor price offer is time limited. Options for value engineering and delaying expenditure have been fully explored.
Publication date: 22/07/2021
Date of decision: 22/07/2021
Effective from: 30/07/2021