Issue - meetings

Report No:   CAB/SE/16/020

Portfolio Holder: Joanna Rayner       Lead Officer: Jill Korwin

RESOLVED

That:

(1)     subject to planning permission, an investment of £50,000 be made into the Ram Meadow site, Bury St Edmunds to enable Bury Town Football Club to progress the building of a new clubhouse;

(2)     a virement of £50,000 be made from the allocated Capital Programme for the Bury Community Football projectto fund this investment, as outlined in Section 2.6 of Report No: CAB/SE/16/020; and

(3)     the £50,000 investment be made via a capital grant to Bury Town Football Club and be subject to the agreement of a new 5 year lease (with a 3 year break clause) on the site with a revised annual rent of £6,800, as outlined in Sections 2.1 and 2.2 of Report No: CAB/SE/16/020.

The Cabinet considered Report No: CAB/SE/16/020, which sought approval for an investment of £50,000 towards the building of a new clubhouse for Bury Town Football Club at the Council-owned Ram Meadow site in Bury St Edmunds.

Councillor Joanna Rayner, Portfolio Holder for Leisure and Culture drew relevant issues to the attention of the Cabinet, including that although a short term option, the investment would help strengthen Bury Town Football Club, make it more attractive to investors and ultimately enable the Club to contribute financially to a future move. The investment would be subject to  a new five year lease to be granted to the Club, which would generate an income of £6,800 per annum.  The additional £6,000 per annum represented a return of 12%pa for the Council and would reflect the upgraded facilities on the site.  At the end of the five year lease the Council would also own the asset.

The Cabinet acknowledged the significant state of disrepair of the existing clubhouse and that the costs of improvement were uneconomic.  Members also recognised the Club’s efforts to fund in excess of £50,000 of the total project cost of just over £100,000, which resulted in unanimous support expressed for the recommendations contained in the report.

RESOLVED

That:

(1)     subject to planning permission, an investment of £50,000 be made into the Ram Meadow site, Bury St Edmunds to enable Bury Town Football Club to progress the building of a new clubhouse;

(2)     a virement of £50,000 be made from the allocated Capital Programme for the Bury Community Football projectto fund this investment, as outlined in Section 2.6 of Report No: CAB/SE/16/020; and

(3)     the £50,000 investment be made via a capital grant to Bury Town Football Club and be subject to the agreement of a new 5 year lease (with a 3 year break clause) on the site with a revised annual rent of £6,800, as outlined in Sections 2.1 and 2.2 of Report No: CAB/SE/16/020.