The Executive Leader, Councillor Alistair Bradley, presented the report of the Director of Commercial which details the cost increase on the Tatton Gardens project.  The report requests an increase in the approved budget to cover the additional expenditure, whilst acknowledging the positive commercial return.

Whilst every effort was made at design stage and prior to entering into Contract with the Contractor to capture all costs associated with the development, it is highlighted that the design period was expedited to ensure that the timescales for the getting building funding were achieved.

A provision was included for any anticipated additional costs and the risks that remained with the Council, however some costs have been significantly higher than anticipated and some design issues have been identified that were not anticipated.

The Executive Leader, Councillor Alistair Bradley proposed and the Deputy Leader, Councillor Peter Wilson seconded the (unanimous) Decision

1.         To approve an increase in the budget from £15,740,000 to £16,150,000, an increase of £410,000. £170k relating to cost reviews and additional £240k contingency.

2.         To acknowledge that the additional expenditure is offset by the Getting Building Fund grant of £5.2m secured in November 2020.