Issue - meetings

Report number:     CAB/WS/23/062

Portfolio holder: Councillor Diane Hind

Lead officer: Rachael Mann

Resolved:

That:

1.       The project objectives as set in the strategic case for Provincial House, Haverhill, be endorsed.

2.       Up to £2 million of capital budget, funded by the Investing in Growth Fund, in line with this business case to progress the remodelling and refurbishment of Provincial House to enable both public sector and commercial lettings, be approved.

3.       The revenue risks be noted, including any project expenditure that is unable to be capitalised, will be covered by the Capital Financing Reserve.

4.       It be acknowledged that in line with recommendations (2), (3) and (4) above, officers will proceed in line with the Council’s agreed Scheme of Delegation.

5.       It be agreed for the Council’s Section 151 Officer to make the necessary changes to the Council’s prudential indicators as a result of recommendation (3).

The Cabinet considered this report, which sought approval for further investment in Provincial House, Haverhill.

West Suffolk acquired Provincial House in Haverhill High Street in 2019 using £3.7 million of the Investing in Growth Agenda Fund with the aspiration to re-purpose vacant space creatively, create jobs, deliver wider public benefits, and drive footfall into the town centre.

Through the One Public Estate Programme, the Council was partnering with West Suffolk College to explore the potential relocation of the Adult Learning Centre (currently being rebranded as Personal and Professional Learning Centre) back into the heart of the town and centre of the community.

The confidential business case attached at Exempt Appendix A to Report number: CAB/WS/23/062 set out the proposal for Cabinet to agree to invest up to a further £2 million into Provincial House, from the Investing in our Growth Agenda fund (supported by external borrowing). This was to facilitate the investment in the remaining vacant floors including the works required to relocate the college offer into the town centre. The income generated by the project was currently estimated to create a net surplus after borrowing in line with the Investing in our Growth Agenda fund that would go towards the delivery of Council services.

Councillor Indy Wijenayaka, Portfolio Holder for Growth, drew relevant issues to the attention of Cabinet, including that the project would ensure adult learning provision remained in Haverhill and in the easily accessible town centre. It was considered to be an excellent opportunity for growth which would also provide further commercial space at Provincial House more suited to the local market and therefore attract more people into the town centre to use these and surrounding facilities and businesses. At the same time the project would bring a return to the Council which could be put back into funding services vital for West Suffolk communities.

The Cabinet supported the proposal and recognised the benefits of the investment in terms of supporting the service that was intended to be provided by West Suffolk College; providing an opportunity to attract commercial interest; and the associated income generated for the Council.

Resolved:

That:

1.       The project objectives as set in the strategic case for Provincial House, Haverhill, be endorsed.

2.       Up to £2 million of capital budget, funded by the Investing in Growth Fund, in line with this business case to progress the remodelling and refurbishment of Provincial House to enable both public sector and commercial lettings, be approved.

3.       The revenue risks be noted, including any project expenditure that is unable to be capitalised, will be covered by the Capital Financing Reserve.

4.       It be acknowledged that in line with recommendations (2), (3) and (4) above, officers will proceed in line with the Council’s agreed Scheme of Delegation.

5.       It be agreed for the Council’s Section 151 Officer to make the necessary changes to the Council’s prudential indicators as a result of recommendation (3).