Issue - meetings

The purpose of the report is to seek the allocation of funding to undertake short to medium term investments in the Bournemouth International Centre (BIC), to ensure it continues to be a venue of choice for conferences and entertainment.

The Portfolio Holder Tourism, Leisure & Communities presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'F' to these Minutes in the Minute Book.

Cabinet were requested to consider the allocation of funding to undertake short to medium term investments in the Bournemouth International Centre (BIC), to ensure that it continues to be a venue of choice for conferences and investment.

In presenting the report the Portfolio Holder stressed the importance of investment in the BIC in particular in order to secure long term bookings.

The Chairman of the Overview and Scrutiny Board advised Cabinet that at their recent meeting the Board had expressed concern with regards to the length of the loan. And that further to this had resolved to make the following recommendations to the Cabinet:

1)    Delete recommendation of the report; and

2)    Amend recommendation (b) to read ‘Approves the use of up to £1.8m of Prudential Borrowing at assumed interest rate of 5.5% over 25 years.

A Councillor in attendance at the meeting addressed the Cabinet expressing concerns with regards to tendering for all the works at once in particular financial costs that may be incurred should not all of the stages of the works be carried out.

In relation to this the Cabinet discussed the tendering and highlighted that tendering for all the work at the same time was the most cost efficient way. In relation to this it was felt that as part of the tendering process the tendering documents could express the concerns and look to limit any financial penalties.

Cabinet Members highlighted the importance of looking to use environmentally friendly products within the development.

RECOMMENDED that Full Council:-

(a)          Supports the proposal for up to £4.7m ‘short term’ remodelling programme of the Bournemouth International Centre (BIC), on the understanding that only up to £1.8m of this will be committed in advance of the longer-term BIC development options study;

(b)          Approves the use of up to £4.7m of Prudential Borrowing at assumed interest rate of 5.5% over 25 years;

(c)          Delegates to the Corporate Director and Portfolio Holder for Destination & Culture responsibility for approving the final specification and phasing of the programme;

(d)          A commitment to review spending of uncommitted monies in years 2 and 3 of this project should the BIC long term development plan warrant that;

(e)          Delegates approval of the final funding strategy to the Chief Financial Officer, in liaison with Corporate Director and Portfolio Holder for Finance and Destination & Culture; and

(f)           Notes that a further report will be brought for Member approval to address ongoing asset management needs across the whole of the BH Live estate.

Voting: Unanimous

Portfolio Holder: Tourism, Leisure & Communities

The Portfolio Holder Tourism, Leisure & Communities presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'F' to these Minutes in the Minute Book.

Cabinet were requested to consider the allocation of funding to undertake short to medium term investments in the Bournemouth International Centre (BIC), to ensure that it continues to be a venue of choice for conferences and investment.

In presenting the report the Portfolio Holder stressed the importance of investment in the BIC in particular in order to secure long term bookings.

The Chairman of the Overview and Scrutiny Board advised Cabinet that at their recent meeting the Board had expressed concern with regards to the length of the loan. And that further to this had resolved to make the following recommendations to the Cabinet:

1)    Delete recommendation of the report; and

2)    Amend recommendation (b) to read ‘Approves the use of up to £1.8m of Prudential Borrowing at assumed interest rate of 5.5% over 25 years.

A Councillor in attendance at the meeting addressed the Cabinet expressing concerns with regards to tendering for all the works at once in particular financial costs that may be incurred should not all of the stages of the works be carried out.

In relation to this the Cabinet discussed the tendering and highlighted that tendering for all the work at the same time was the most cost efficient way. In relation to this it was felt that as part of the tendering process the tendering documents could express the concerns and look to limit any financial penalties.

Cabinet Members highlighted the importance of looking to use environmentally friendly products within the development.

RECOMMENDED that Full Council:-

(a)          Supports the proposal for up to £4.7m ‘short term’ remodelling programme of the Bournemouth International Centre (BIC), on the understanding that only up to £1.8m of this will be committed in advance of the longer-term BIC development options study;

(b)          Approves the use of up to £4.7m of Prudential Borrowing at assumed interest rate of 5.5% over 25 years;

(c)          Delegates to the Corporate Director and Portfolio Holder for Destination & Culture responsibility for approving the final specification and phasing of the programme;

(d)          A commitment to review spending of uncommitted monies in years 2 and 3 of this project should the BIC long term development plan warrant that;

(e)          Delegates approval of the final funding strategy to the Chief Financial Officer, in liaison with Corporate Director and Portfolio Holder for Finance and Destination & Culture; and

(f)           Notes that a further report will be brought for Member approval to address ongoing asset management needs across the whole of the BH Live estate.

Voting: Unanimous

Portfolio Holder: Tourism, Leisure & Communities